Is AMD Stock Currently In A Buy Position?

AMD introduced the next generation Ryzen processors for desktop computers on October 8. He launched the Ryzen 5000 series, central processing units as the world's fastest game processors. Ryzen 5000 series products are aimed at PC gamers and content creators. AMD also introduced significant performance improvements for gaming, video editing, computer-aided design and software with its new series. AMD released its latest graphics processors to compete with Nvidia on October 28. AMD Radeon RX 6000 series graphics cards promise 4K resolution for top-notch gaming performance. At the Virtual CES 2021 technology conference held on January 12, CEO Su introduced the company's new Ryzen 5000 Series mobile processors. He described the chips as the most powerful computer processors ever built for ultrathin and gaming laptops. However, AMD shares fell 2 percent that day. At the end of January 26, AMD reported better than expected results in the fourth quarter thanks to strong demand for PC, gaming and data center products. But AMD shares fell 6.2 percent again the next day. AMD gained an adjusted share of 52 cents of sales of $ 3.24 billion in the December quarter. Analysts had expected AMD to get a 47-cent adjusted share of the $ 3.02 billion sales. On an annual basis, AMD earnings increased 63 percent, while sales rose 53 percent. In the current quarter, AMD expects to earn $ 3.2 billion in revenue and 79 percent increase compared to the previous quarter. Wall Street analysts expect AMD to generate $ 2.73 billion in revenue in the first quarter. AMD expects its sales to increase 37 percent to $ 13.38 billion for the full year. Analysts expect a revenue of $ 12.24 billion in 2021. Six Wall Street analysts raised their price targets for the AMD stock following the company's earnings report.

AMD Stock Technical Analysis

According to IBD MarketSmith charts, on November 30, AMD shares exited a double bottom floor price in the fourth round with a buy point of 88.82. On January 11, it reached a record high of 99.23. AMD shares are trading in and outside the 5 percent follow-up zone since the breakpoint. However, after a breakout gain of more than 10 percent, it fell below the buy point again and triggered a two-way sell signal. The IBD Relative Strength Rating of AMD stock is 66. This means it has outperformed 66 percent of the stocks in the market over the past 12 months. The best growth stocks typically have an RS Score (Relative Strength Rating) of at least 80. AMD's relative strength line has declined since mid-December as it performed below the S&P 500 index. AMD stocks are included in the IBD 50 best growing stocks list.  

AMD shares are currently not in a buy position.

AMD, which finished the normal session with 92.35 on February 10, is struggling to find direction, even though it is in the purchasing area due to the previous break. AMD is trading on the 50-day moving average line. Having moved mostly sideways for the past two months, AMD stocks have been trying to create a new foundation.   Is AMD Stock Currently In A Buy Position? Source: https://www.investors.com/  You may also be interested in:

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