Young people are loving AMD ahead of earnings
- Advanced Micro Devices reports first-quarter earnings after the closing bell Wednesday.
- People under the age of 30 are doing most actively trading AMD on investing app Robinhood.
- Robinhood investors at large are more bullish on the stock than they were ahead of AMD's last earnings report.
- Watch AMD trade in real time here.
Young people are buying up shares of Advanced Micro Devices ahead of the company's earnings report, which is scheduled to cross the wires after Wednesday's closing bell.
Investors are buying 40% more than they are selling AMD, according to data from Robinhood, a popular no-fee trading app used widely by millennials. That's a discernible change in sentiment on AMD among Robinhood investors, as they sold shares 5% more than they bought ahead of the company's previous earnings report.
And it is young people who have been accounting for most of AMD's trading action. Robinhood investors under the age of 30 account for 70% of AMD's trading volume on the app, data showed.
Robinhood data scientist Sahill Poddar has a theory for why young people are currently so hot on AMD. "The stock's low price of around $10 makes the stock more appealing to investors with less buying power," he told Business Insider in an email.
AMD is the fourth most held stock on the platform, well ahead of rivals Nvidia (12th), and Intel (23rd).
Wall Street analysts surveyed by Bloomberg expect AMD to report adjusted earnings of $0.09 a share on revenue of $1.57 billion.
AMD shares are down about 3% ahead of Wednesday's results and 4.67% this year.
