Advanced Micro Devices (AMD)

Dec 30, 2022Trade Ideas

Advanced Micro Devices (AMD) was crushed over the last year. All thanks to broad market weakness, inflation, fears of recession, price target cuts, and plunging PC demand. However, it appears most of the negativity has been priced in. It also appears the stock just caught double bottom support, with oversold RSI, MACD, and Williams’ %R.

Analysts like the stock here, too. UBS upgraded AMD to a buy rating, with a price target of $95 a share. Baird upgraded the AMD stock to an outperform rating with a price target of $100. And Morgan Stanley just named AMD a “top pick” heading into 2023. The firm currently has an overweight rating on the stock, with a price target of $77.

AMD last traded at $64.82 a share. It was up to about $155 in late 2021.


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