Advanced Micro Devices (AMD) : Traders are bullish on Advanced Micro Devices (AMD) as it has outperformed the S&P 500 by a wide margin of 29.98% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 13.26%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 13.22% in the last 1 week, and is up 30.48% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Advanced Micro Devices, Inc. is up 96.9% in the last 3-month period. Year-to-Date the stock performance stands at 165.51%. The stock has recorded a 20-day Moving Average of 14.71% and the 50-Day Moving Average is 34.64%.
Advanced Micro Devices (NASDAQ:AMD): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.24 and $7.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.62, notching a gain of 8.24% for the day. The total traded volume was 75,129,305 . The stock had closed at $7.04 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Credit Suisse, maintains their rating on the shares of Advanced Micro Devices (NASDAQ:AMD). Credit Suisse has a Underperform rating on the shares. As per the latest research report, the brokerage house raises the price target to $5.5 per share from a prior target of $3.5. The rating by the firm was issued on July 22, 2016.
Advanced Micro Devices, Inc. is a global semiconductor company with facilities across the world. The Company offers x86 microprocessors, as standalone devices or as incorporated as an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors, dense servers, semi-custom System-on-Chip (SoC) products and technology for game consoles. The Company operates in two segments: the Computing and Graphics segment, which includes desktop and notebook processors and chipsets, discrete GPUs and professional graphics, and the Enterprise, Embedded and Semi-Custom segment, which includes server and embedded processors, dense servers, semi-custom SoC products, engineering services and royalties. The Company sells its products through direct sales force and through independent distributors and sales representatives in both domestic and international markets.