 Welcome, traders, to another TickMeal earnings preview with me, Patrick Munley, before we jump into today's report, as always, want to adhere to that risk disclaimer. Most pertinent to today's presentation is the fact that the views and opinions expressed by me are solely mine and they're not indicative or representative of those held by TickMeal UK or TickMeal Europe Limited. Okay, let's jump into today's report and we are looking at advanced micro devices who are set to report after the close of trade in New York today. We are looking for an earnings per share estimate of 67.1 cents on revenue of 5.512 billion. Over the last three months, EPS estimates have seen upward revisions and 29 downward revisions. Revenue estimates have seen three upward revisions and 28 downward revisions. So there is a downward skew to EPS and revenue. And I would say that there is a whisper number on the street with respect to EPS of potentially as low as 64 cents. AMD, Intel, Nvidia and Qualcomm have had a rough year with shares underperforming the market significantly. AMD in particular fell around 35% over the past 12 months. Analysts at Bernstein, downgraded AMD early in January citing continued weakness in the PC market. Nevertheless, the analysts noted that the semiconductor market has continued to see strength in the dataset into space due in part to its Genoa chips compared to Intel's many issues with its Sapphire Rapid chips. On the other hand, Morgan Stanley has projected some near-term weakness in AMD's data center performance amid customer spending being cut and excessive inventory. It does see a steady climb in AMD's market share over the course of 2023. Investors will be wary after Intel's week Q4 results and shocking forecast for Q1 last week, leaving many on Wall Street to question the company's cash position and financial health. All eyes will be on AMD's 2023 outlook, especially amid dismal projections. Bank of America cut its outlook for PC shipments for the first half of 2023 following a series of industry checks. Preview ahead of AMD's earnings by business quant suggests the firm's purchase obligations inventory levels and segment financials will also be key factors in determining the chipmaker's performance for the year ahead. Over the last two years, AMD has beaten EPS estimates 88% of the time and has beaten revenue also 88% of the time. So speaking about statistical trading patterns, let's jump into those and take a look at what we can expect around the earnings release. AMD shares have moved lower in the immediate aftermath of earnings, eight out of the 12 previous reports. On average, the stock moved up 0.2% in the first day after trading after the company reported earnings. Based on the previous 12 earnings releases, AMD is more likely to trade lower one day after earnings for an average loss, leaving it flat essentially on the day. On average, the stock has moved higher by 1.8% one week after earnings. In terms of the analyst community, we touched on that in the introduction there, but essentially based on 43 analysts giving stock ratings to AMD over the past three months, the stock does remain a buy with the majority of those having it as a strong buy. In terms of the forecast for price on the upside, looking at $200 downside $60, and the average 12 month estimate brings it in at 88.48. In terms of the flow and sentiment in the options market, options traders are pricing in an 8.3% move on earnings. Stock has averaged a 5.6% move in recent quarters. The options market overestimated AMD stock earnings move 75% of the time in the last 12 quarters. Now, there has been notable buying of 10,714 contracts of the $80 bullish call expiring on Friday, and in general of late, options order flow sentiment has been bullish. Investor sentiment going into the company's earnings has 73% expecting earnings beats. Let's pull up the AMD chart and see if we can see any opportunities in terms of trade setups for the stock. Noteworthy on the weekly timeframe, we have moved out of the bearish descending trend channel that we've been trading in since 2022. So that leaves a technical upside objective versus the current swing structure and the swing low at the $60 level gives us 84.66 as our upside target there. So there are a couple of key levels I'm watching as we come into earnings. We're obviously back testing the trend channel support here at the $72 to $71 level. Now any bullish reversal pattern there in a move back through the $76 level, I want to engage on the long side targeting that move up for our quality objective at $84.60. I've also got that support there from the options market in terms of the bullish sentiment and we have that call buying that we've seen at least at the $80 level. Now, if the earnings come in slightly softer than expected, we do have some general softness in the market at the moment as we have the FOMC announcement tomorrow evening. Any pullback into the projected pitch walk support, giving us a test into the $67 level. Once again from that area, I'll watch for bullish reversal patterns to engage on the long side again targeting a move up to our $84.66 equality objective. Now at this stage for me to get bearish on the stock, I'd need to see a daily close back through the support at the $60 level and that would open a move back down to test the $55 cycle low from last year. As always traders, plan the trade, trade the plan and most importantly manage your risk. Until next time, thanks very much.