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- 1 AMD stock price showed bullish sentiments, and added $12.08 in its yesterday’s trading session.
- 2 The other U.S. chipmakers stocks also showed little price gain.
Advanced Micro Devices (NASDAQ: AMD) stock price closed at $120.35 on the trading session of May 25th, Thursday. Its stock price rose more than 11% yesterday, while the opening price was $117.30, the high was $120.69, and the low was $115.80. It must be noted that yesterday’s high was its 52-week high, showing bulls’ confidence in the stock.
AMD Stock Price Analysis
As per the price analysis of Tradingview, the chipmaker stock has overall bullish sentiments. The weekly growth of AMD stock showed more than 15% price gain, while in the recent one-month period, the stock rose almost 38%. The year-to-date (YTD) price further showed over 80% price growth.
The above shows that price chart the stock price has surpassed its 200-day EMA and is soaring upside. The trading volume in the stock price also rose after the chipmaker company released its Q1 2023 earnings and revenue reports. Near its Q1 2023 reports, AMD stock price was trading at nearly $90.00, which grew to its recent closing price. This growth is almost 33% after the release of the company’s first-quarter report.
The bullish price growth took the RSI of this stock towards its overbought zone. Along with the dominance of bulls in the market, stock prices represent the strength of bulls.
However, the analysts have set their price target at $105.70, an almost 12% drop from its recent trading price. Moreover, the analysts offer one-year price forecasts with a maximum price estimate of $200.00, while the minimums estimate is $77.00.
Fundamentals of Advanced Micro Devices
The company engages in the provision of semiconductor businesses. Its total revenue for Q1 2023 is $5.35 billion, but 4.39% lower than the previous quarter. The net income of Q1 23 is $-139.00 million.
The EPS for the first quarter of 2023 is positive at $0.60, whereas the estimation was $0.56, accounting for a 6.54% surprise. Meanwhile, the revenue for the same period amounts to $5.35 billion despite the estimated figure of $5.30 billion.
However, the estimated earnings for the next quarter are $0.58, and revenue is expected to reach $5.33 billion.
The revenue for the last year amounted to $23.60 billion, most of which, around $6.80 billion, came from its highest-performing source, Gaming. Also, the U.S. made the most significant contribution to the revenue figure last year, as it brought the chipmaker company $8.05 billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
