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Shares of Advanced Micro Devices (AMD) dipped over over 2% to $141.38 on Thursday, extending losses after wiping out year-to-date gains in the recent tech selloff. Despite the downturn, retail investors are showing renewed interest in the chipmaker.Stocktwits data indicates a bullish sentiment (57/100) among retail traders for AMD amid high message volume. This marks a significant improvement from the previous day when these investors were completely bearish as the tech-heavy Nasdaq suffered its worst decline since October 2022.<figure class="image"><img style="aspect-ratio:1322/308;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/AMD_Sentiment_score_Jul_25_4dd1bf04c4.png" alt="AMD Sentiment score Jul 25.png" width="1322" height="308"><figcaption>AMD Sentiment score Jul 25</figcaption></figure>Investor focus is now on AMD's Q2 earnings, scheduled for release after market close on July 30. Analysts anticipate earnings per share (EPS) of $0.68, a metric the company has surpassed in three of the past four quarters. Additionally, AMD's Q3 guidance and updated full-year data center GPU revenue forecast, could influence market sentiment.Technical analysis has some retail traders optimistic about AMD's prospects. One <a href="https://stocktwits.com/Vol888/message/580695093">user</a> believes the stock is poised to rebound from its long-term support level, a pattern observed since early 2023.<figure class="image"><a href="https://stocktwits.com/Vol888/message/580695093"><img style="aspect-ratio:1316/1258;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Stocktwits_user_Vol888_s_post_on_AMD_stream_1d73c0e5ee.png" alt="Stocktwits user Vol888's post on AMD stream.png" width="1316" height="1258"></a><figcaption>Stocktwits user Vol888's post on AMD stream</figcaption></figure>While Nvidia and Broadcom remain <a href="https://www.investopedia.com/broadcom-nvidia-investor-sentiment-ai-stocks-8681438">more popular choices</a> in the semiconductor sector, AMD has gained traction with a series of analyst price target hikes this month from firms like Citi, Wells Fargo, TD Cowen, and Roth MKM.Tesla's January announcement to <a href="https://www.bloomberg.com/news/articles/2024-01-26/musk-plans-to-buy-amd-chips-as-tesla-loads-up-on-ai-hardware">purchase AMD chips</a> for its artificial intelligence endeavors also adds to the bullish narrative.However, potential headwinds include proposed tighter U.S. export controls on advanced semiconductor technology to China and the <a href="https://www.theverge.com/2024/7/24/24205416/amd-zen-5-ryzen-9000-desktop-delay">delayed launch</a> of AMD's Zen 5 processors due to quality control issues.The question remains: Could the improving retail sentiment signal a turnaround for AMD?Photo courtesy: AMD

Retail Smells Opportunity As Top Nvidia Rival AMD Erases YTD Gains Amid Big Tech Rout

Despite recent price drops, retail investors remain bullish on the chipmaker, with eyes on upcoming earnings and long-term growth prospects.

Equity

Despite recent price drops, retail investors remain bullish on the chipmaker, with eyes on upcoming earnings and long-term growth prospects.


Taiwan Semiconductor Manufacturing Company (TSM) on Thursday announced an upbeat set of second quarter earnings that topped analyst estimates led by an increasing demand for chips used in artificial intelligence (AI) applications. TSM reported a 40.10% jump in net sales at New Taiwan Dollar (NT) 673.51 billion as compared to a Street estimate of NT657.58. Net income came in at NT247.85 billion as compared to an estimate of NT238.80 billion.<figure class="image"><img style="aspect-ratio:789/223;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_18_at_8_43_21_AM_e0365a2377.png" alt="Retail sentiment remains bearish for TSM stock" width="789" height="223"><figcaption>Retail sentiment remains bearish for TSM stock despite upbeat second quarter earnings</figcaption></figure>Despite the better-than-expected earnings, retail sentiment remained in bearish territory (40/100) on Stocktwits supported by extremely high message volumes (93/100) that hit a one-year high. Some users are concerned the positive earnings report may not be enough for the stock to hold on to the significant gains it is sitting on.Moreover, a report that indicated the US may be considering tough trade restrictions on semiconductor companies had led to a sell-off in chip stocks on Wednesday – something that could be preventing retail from being overly bullish on the sector.TSM said in dollar terms, second quarter revenue stood at $20.82 billion, up 32.80% year-over-year.Wendell Huang, Senior VP and Chief Financial Officer at TSMC said that the second quarter was supported by strong demand for its 3 nanometer and 5 nanometer technologies, partially offset by continued smartphone seasonality.During the second quarter, shipments of 3-nanometer accounted for 15% of total wafer revenue. Meanwhile, 5-nanometer accounted for 35% of the revenue and 7-nanometer accounted for 17%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 67% of total wafer revenue.“Moving into third quarter 2024, we expect our business to be supported by strong smartphone and AI-related demand for our leading-edge process technologies,” Huang said.For the third quarter, the company expects its revenue to come in between $22.40 billion and $23.20 billion. This tops an earlier Street estimate of $22.60 billion.Based on the exchange rate assumption of one dollar to 32.50 NT dollars, it expects a gross profit margin between 53.50% and 55.50% and an operating profit margin between 42.50% and 44.50%.Shares of the firm have risen over 68% since the beginning of the year to $171.20. Recently, Needham reportedly raised its price target on the stock to $210 from the earlier target of $168 and maintained a ‘Buy’ rating on the stock. &nbsp;

TSM Second Quarter Earnings Beat Analyst Estimates: Here’s How Retail Reacted

Despite the better-than-expected earnings, retail sentiment remained in the bearish territory (40/100) on Stocktwits supported by extremely high message volumes (93/100) that hit a one-year high.

BlackRock Institutional Trust Company N.A. - iShares Semiconductor ETF

Volume	3.81M
52-Wk High	$267.24
52-Wk Low	$144.40

SOXX BlackRock Institutional Trust Company N.A. - iShares Semiconductor ETF

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