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- Advanced Micro Devices may see a strong gains in revenue in FY 2023
- Technical indicators of AMD suggest a strong momentum. It is currently trading near $64 with a gain of 1.03%
AMD (Advanced Micro Devices) is a multinational semiconductor company which designs and manufactures computer processors, graphics cards, and other products. It was founded in 1969, and has consistently been a major player in the technology industry. In recent years, AMD has seen significant growth and success, particularly in the competitive market for computer processors.One of the key factors behind AMD’s success has been its strong partnerships and collaborations with major tech giants. The company has worked with major players like Microsoft and Google to develop and manufacture high-performance processors for a wide range of products, including PCs, laptops, and gaming consoles.The company has seen steady growth in revenue and profits, and its stock price has reflected this positive trend.
AMD has a market cap of 104.09 Billion and is growing consistently. AMD stock price is currently in a slump but can see a new high soon. Various analysts are placing a target over $90 for AMD in 2023
Bulls Of AMD Stock Price Are Looking For Upside
AMD stock price is currently observing an upside move which can push the price to a new high. The weekly technical chart of the AMD suggests a consolidated move. On coming to the daily chart the asset price is trading near the value of $64 with a gain of 1.03%. Resistance of the asset price can see a halt near $80. Meanwhile, the support of the asset price can be seen near $50. It is trading above 50 and 100 DMA. It can soon see a positive crossover which can push the price to a new high. It is more than 50% below the 52 week high. It can push above the high in upcoming months.
Conclusion
AMD is currently in a week upside momentum which can push it to a new high. AMD stock price may observe a strong upside trend in the future.
Technical Levels
Major Support:$50
Major Resistance:$80
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
