What's Going on With AMD Stock Monday?
Advanced Micro Devices Inc. (NASDAQ: AMD ) stock rose more than 2% in Monday’s premarket session as improving risk appetite lifted large-cap technology stocks. Nasdaq futures gained 1.28%, while S&P 500 futures advanced 0.80%. Other semiconductor stocks also traded higher before the opening bell. AMD’s early gains appeared to track the broader market rally rather than any company-specific news. Investors continued to favor high-growth technology stocks as U.S. equity futures moved higher. The stock has posted strong gains over the past year. With its next earnings report approaching, traders are watching whether AMD can maintain its recent momentum. Read Also: Should Investors Buy AMD Instead Of Nvidia? Technical Analysis AMD is trading near its 20-day simple moving average (SMA) of $533.06, making that level an important short-term support area. The stock remains 4.9% abo...
Advanced Micro Devices Inc. (NASDAQ: AMD ) stock rose more than 2% in Monday’s premarket session as improving risk appetite lifted large-cap technology stocks. 80%. Other semiconductor stocks also traded higher before the opening bell.
AMD’s early gains appeared to track the broader market rally rather than any company-specific news. S. equity futures moved higher. The stock has posted strong gains over the past year.
With its next earnings report approaching, traders are watching whether AMD can maintain its recent momentum. Read Also: Should Investors Buy AMD Instead Of Nvidia? 06, making that level an important short-term support area. 68.
The longer-term trend remains firmly positive. 66, indicating neutral momentum. That suggests the stock has cooled after its recent rally and is now consolidating. The bullish trend remains intact because the 20-day SMA is above the 50-day SMA, while the 50-day SMA remains above the 200-day SMA.
AMD reached a 52-week high in June after rebounding from a May swing low and has since entered a consolidation phase. 00 Earnings And Analyst Outlook AMD is scheduled to report second-quarter results on Aug. 4. 55, up from 48 cents a year earlier.
68 billion a year earlier. Valuation: Shares trade at about 174 times earnings. 36. Recent analyst actions include: UBS: Reiterated Buy, raised price forecast to $730 on July 24.
Jefferies: Reiterated Buy, raised price forecast to $640 on July 24. Roth Capital: Reiterated Buy, raised price forecast to $650 on July 24. Edge Rankings AMD scores highly on Momentum, Growth and Quality, while its Value score remains weak because of its premium valuation. The combination suggests investors continue to reward the company’s growth prospects.
However, the elevated valuation could lead to larger swings if earnings or guidance disappoint. 22% AMD’s large weightings in these funds mean ETF inflows and outflows can influence demand for the stock. 53 during premarket trading on Monday, according to Pro data. Image via Shutterstock Read Also: Intel And AMD Eye Multi-Year Server Chip Deals With Chinese Customers amid AI Boom: Report