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Baru-baru ini, Datuk Seri Aliff Syukri meluahkan hasratnya untuk menjernihkan semula hubungan sahabat baiknya Datuk Seri Vida dengan penyanyi Aishah. Niat baik Aliff Syukri itu dipuji oleh Vida, bagaimanapun, Vida memberitahu permintaan itu bukan mudah kerana ia tidak dapat menghentikan segala kecaman yang dilemparkan terhadap dirinya. AMD Faces Giant 22% Swings Amid Uncertain Outlook By Michael J. Kramer | October 2, 2018 — 6:00 AM EDT SHARE (Note: The author of this fundamental analysis is a financial writer and portfolio manager. He and his clients own shares of TSLA.) Advanced Micro Devices Inc.'s (AMD) stock has more than tripled since the start of the year. Now with the third quarter over and results coming in over the next few weeks, uncertainty looms large. The options market is pricing in a massive level of volatility over the next weeks with the potential for the shares to rise or fall by as much as 22%. AMD is likely to report its third-quarter results around the end of October and analysts are looking for earnings growth to slow considerably versus the second quarter. (For more, see also: AMD Shares Reflect ‘Irrational Expectations’.) AMD Chart AMD data by YCharts Big Volatility Coming The options due to expire on November 16 imply that the stock rises or falls by about 22% from the $31 strike price using the long straddle options strategy which involves buying both a put and a call. It places the stock in a massive trading range between $24.30 and $37.70. The puts and calls are almost even at that strike price with almost 5,000 open calls to 4,000 puts. Implied volatility levels are also high, as one would expect, at almost 75%. That is almost eight times higher than the S&P 500’s implied volatility for expiration on November 15. It is even higher than another volatile stock, Tesla Inc. (TSLA), which has an implied volatility of 64%. (For more, see also: Tesla Seen Facing Wild 20% Swings Amid Uncertainty.) Third-Quarter Results The uncertainty stems from the stocks tremendous advance in 2018. But analysts have been reducing their revenue and earnings estimates since the middle of July for the third quarter. That was when the company beat second-quarter forecast but issued guidance below street consensus. Analysts have lowered their revenue forecast for the company by 3% to $1.71 billion while earnings estimates have dropped by 4% to $0.13. AMD EPS Estimates for Current Quarter Chart AMD EPS Estimates for Current Quarter data by YCharts Not Cheap Analysts have an average price target on the stock of about $25, which is roughly 21% lower than the stock’s current price. The shares aren’t that cheap either, trading at a 2019 PE ratio of 46.3. Consider that the average price of the top-25 holdings in the iShares PHLX Semiconductor ETF (SOXX) trades at a one-year forward PE ratio of 15.4. Even when adjusting the current stock’s valuation for its earnings growth estimates of 41.5% in 2019, the stock is trading with a PEG ratio of over 1.1. With the stocks significant gains this year there is no doubting that expectations going into the quarterly results will be huge. Investors will look for a big beat on both the top and the bottom line and better than expected revenue and earnings guidance. It puts a lot of pressure to meet those significant demands. Michael Kramer is the Founder of Mott Capital Management LLC, a registered investment adviser, and the manager of the company's actively managed, long-only Thematic Growth Portfolio. Kramer typically buys and holds stocks for a duration of three to five years. Click here for Kramer's bio and his portfolio's holdings. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future performance. Read more: AMD Faces Giant 22% Swings Amid Uncertain Outlook | Investopedia https://www.investopedia.com/news/amd-faces-giant-22-swings-amid-uncertain-outlook/#ixzz5SqX443JR Follow us: Investopedia on Facebook

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