Advanced Micro Devices (AMD)

Sep 9, 2022Trade Ideas

After plummeting from about $105 to $77.74, Advanced Micro Devices (AMD) appears to have bottomed out, and is starting to pivot higher. RSI, MACD, and Williams’ %R are all starting to recover, as well. From a current price of $82.78, we’d like to see AMD again challenge resistance around $105 a share, near-term.

Helping, analysts at Stifel just initiated a buy rating on the AMD stock, with a price target of $122. According to, the analysts cite AMD’s “strong product roadmap” and sustained leadership position against Intel (INTC). The current valuation “appears reasonable,” particularly relative to other product cycle companies such as Nvidia (NVDA).

The analysts added, “Despite near-term demand volatility, we expect share gains to drive growth well above market, and we expect gross and operating margin expansion to continue, which ultimately, should drive multiple expansion,” as quoted by Barron’s.

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