AMD Stock Rises as Market Shows Strength
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2024
0mins
Should l Buy AMD?
Advanced Micro Devices Inc (AMD) saw its stock rise by 5.18% as it crossed above the 5-day SMA, reflecting positive momentum in the tech sector.
The increase in AMD's stock price is attributed to broad market strength, with the Nasdaq-100 up 0.70% and the S&P 500 up 0.38%. This positive market environment has contributed to investor confidence in AMD, especially as the company prepares to report its quarterly earnings next week, which analysts expect to be favorable.
As AMD gears up for its earnings report, the strong performance in the broader market may provide a supportive backdrop, potentially leading to further gains for the stock as investors remain optimistic about the company's growth prospects.
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Analyst Views on AMD
Wall Street analysts forecast AMD stock price to rise
33 Analyst Rating
25 Buy
8 Hold
0 Sell
Strong Buy
Current: 210.210
Low
210.00
Averages
289.13
High
377.00
Current: 210.210
Low
210.00
Averages
289.13
High
377.00
About AMD
Advanced Micro Devices, Inc. is a global semiconductor company. The Company is focused on high-performance computing and artificial intelligence (AI). Its segments include Data Center, Client and Gaming, and Embedded. Data Center segment includes AI accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and Adaptive system-on-Chip (SoC) products for data centers. Client and Gaming segment includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services. Embedded segment includes embedded CPUs, APUs, FPGAs, system on modules (SOMs), and Adaptive SoC products. It markets and sells its products under the AMD trademark. Its products include AMD EPYC, AMD Ryzen, AMD Ryzen PRO, Virtex UltraScale+, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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