Technical Analysis: AMD
Advanced Micro Devices ($AMD) is a leader in semiconductors, AI solutions and in data centers. AMD continues to have attractive long term growth prospects even-though it has underperformed the market, performing ~ -7% following its earnings call, largely caused by higher guidance for CapEx in the near future. Due to this AMD has now approached key support levels presenting the opportunity for a rebound after a likely tougher holiday season. Accordingly, we are setting our price target at $120 for the end of the year and also setting an additional 12 week target of $150, anticipating a post holiday rebound driven by returning investor confidence and euphoria. read out our technical analysis below to see how we set our price targets.
