AMD earnings expected to shine light on uncertain semiconductor market
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Investors and Wall Street will get another look at the state of the semiconductor market when Advanced Micro Devices (NASDAQ:AMD) reports its fourth-quarter result following Tuesday's market close. 
Wall Street analysts currently estimate that AMD (AMD) will report a profit of 67 cents a share on $5.52B in revenue for the quarter that ended in December. Whatever the company has to say about its outlook will be the key item that analysts and investors will focus upon during Tuesday's report.
The chip giant got a bit of a boost late last week after its top rival, Intel (INTC), turned in a disappointing quarterly report and outlook of its own that left several analysts sounding critical, if not downright gloomy about the prospects for the world's largest semiconductor company and the strategies of Chief Executive Pat Gelsinger.
However, AMD (AMD) shares fell almost 4% on Monday as enthusiasm began to wane ahead of the company's quarterly report.
AMD's (AMD) results also come in the wake of some critical opinions on the company by Wall Street analysts. Last week, Bernstein analyst Stacy Rasgon cut his rating on AMD (AMD) to market perform from buy, and lowered his price target on the chipmaker's shares to $80 from $95. Rasgon said the deteriorating state of the PC market, which is one of AMD's (AMD) biggest sources of revenue, was the main reason for his downgrade.
On the whole, Wall Street analysts currently have a consensus buy rating on AMD's (AMD) stock, as do Seeking Alpha authors. Seeking Alpha's Quant System, which historically outperforms the stock market, gives AMD (AMD) shares a rating of hold.