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What Cramer is watching Wednesday — AMD gains, Starbucks' plea, Lyft struggles

A customer exits a Starbucks in Buffalo, New York, U.S., December 7, 2021.
Lindsay DeDario | Reuters

What I am looking at May 4, 2022

  • Advanced Micro Devices (AMD) is not a PC company. It's a high-performance company with telco, defense, aerospace and cloud. Still hard to get consoles. Taking a great deal of share on the high end from Intel (INTC) while giving its rival the low end. Shares surged more than 6% in the premarket after chipmaker reported beats on sales and earnings. The messianic Pat Gelsinger (Intel CEO) is more focused on building fabs than chips. When will people understand this? Revenues up, gross margins up, much faster growth from recent acquisition Xilinx; company hadn't been able to talk about it.
  • Join our live Monthly Meeting tomorrow at a new time of 12:00 p.m. ET. We're fleshing out our stance post-Fed decision. How bad the rate hike? 50 basis points and go slow on the QT (quantitative tightening)? S&P Oscillator flashing minus 5.9, meaning the market's oversold.