“Advanced Micro Devices (AMD) Was Terrific,” Says Jim Cramer

Core Insights - Advanced Micro Devices, Inc. (NASDAQ:AMD) reported third-quarter earnings of $9.25 billion, exceeding analyst expectations of $8.74 billion, with earnings per share of $1.20 beating estimates of $1.16 [2] - Investment bank Morgan Stanley maintained an Equalweight rating on AMD shares with a price target of $260, emphasizing the need for AMD's MI450 AI chip to gain market share to justify its valuation [2] - Jim Cramer highlighted AMD's strong quarterly performance but expressed concerns about the overall sentiment in the chip sector, suggesting that some AI stocks may offer better investment opportunities with higher returns and lower risks [3] Financial Performance - AMD's revenue for the third quarter was reported at $9.25 billion, significantly higher than the anticipated $8.74 billion [2] - The company's earnings per share of $1.20 also surpassed the expected $1.16 [2] Market Sentiment - Jim Cramer described AMD's quarterly results as "amazing," but noted a decline in the broader cohort of chip stocks [3] - There is a belief that certain AI stocks may provide greater potential for returns compared to AMD, despite its strong performance [3]