Advanced Micro Devices Inc. ($AMD) Stock Forecast: Down 5.2% Today

What is Advanced Micro Devices Inc.?

A leading semiconductor company, Advanced Micro Devices Inc. (AMD), is recognized for its innovative products in gaming and artificial intelligence markets. The stock recently saw a notable bearish movement.

Why is Advanced Micro Devices Inc. going down?

AMD stock is down 5.2% on Oct 31, 2024 14:01

• The launch of the new AMD Ryzen 7 9800X3D processor intended for gamers potentially created elevated expectations. However, market response may have been affected by uncertainties surrounding the product's actual performance and reception.
• While CEO Lisa Su conveyed an optimistic viewpoint on AMD's standing in the AI market, investors could have been underwhelmed by the company's Q4 projections, prompting a sell-off of shares.
• The increased investment from Cathie Wood in AMD initially drove the stock up. Yet, the subsequent decline might signify profit-taking or a change in market sentiment.
• Analysts pointing out the substantial long-term AI growth prospects for AMD may have been overshadowed by worries about competition from NVIDIA, leading to a negative impact on the stock's performance.

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AMD Technical Analysis

AMD News

The Gaming Legend Continues - AMD Introduces Next-Generation AMD Ryzen 7 9800X3D Processor - Advanced Micro Devices ( NASDAQ:AMD )

SANTA CLARA, Calif., Oct. 31, 2024 ( GLOBE NEWSWIRE ) -- Oct. 31, 2024 ( GLOBE NEWSWIRE ) - Today, AMD AMD unveiled new desktop computing products, delivering enhanced performance for gamers.

https://www.benzinga.com/pressreleases/24/10/g41652837/the-gaming-legend-continues-amd-introduces-next-generation-amd-ryzen-7-9800x3d-processor

AMD CEO Lisa Su: No 'One Size Fits All' In $500B AI Computing Future - Meta Platforms ( NASDAQ:META )

Lisa Su, CEO of Advanced Micro Devices Inc. AMD, provided an optimistic outlook for the company's position in the burgeoning artificial intelligence market.

https://www.benzinga.com/markets/equities/24/10/41643612/amd-ceo-lisa-su-no-one-size-fits-all-in-500b-ai-computing-future

Cathie Wood Shuffles Her Tech Deck: Continues Dumping Tesla And Palantir, Stocks Up On AMD And Meta - Archer Aviation ( NYSE:ACHR ) , Advanced Micro Devices ( NASDAQ:AMD )

On Wednesday, Cathie Wood-led Ark Invest made some significant trades, with the most notable ones involving Tesla Inc ( TSLA ) , Advanced Micro Devices Inc ( AMD ) , and Palantir Technologies Inc ( PLTR ) .

https://www.benzinga.com/markets/equities/24/10/41642374/cathie-wood-shuffles-her-tech-deck-continues-dumping-tesla-and-palantir-stocks-up-on-amd-and-met

AMD Stock Drops On Q4 Outlook As 10 Analysts Highlight 'Long-Term AI Growth Opportunity,' Nvidia Rivalry - Advanced Micro Devices ( NASDAQ:AMD )

Advanced Micro Devices Inc AMD analysts make a case for the company to gain market share in several sectors as it works to compete against NVIDIA Corp NVDA and grow its AI business, as evidenced in third-quarter results. KeyBanc analyst John Vinh reiterated an Overweight rating with a $220 price ...

https://www.benzinga.com/analyst-ratings/price-target/24/10/41634850/amd-stock-drops-on-q4-outlook-as-10-analysts-highlight-long-term-ai-growth-opportuni

AMD Making 'Great Progress' With AI Giants: Jim Cramer Says AI Chip Story Is 'Not Just Jensen Huang' - Advanced Micro Devices ( NASDAQ:AMD )

Although NVIDIA Corp NVDA has dominated the AI chip market to date, Advanced Micro Devices, Inc. AMD CEO Lisa Su believes AMD will continue to see significant growth in the AI space - and she's not alone. Wednesday on CNBC's "Squawk On The Street," Jim Cramer suggested AMD will play a huge role ...

https://www.benzinga.com/trading-ideas/long-ideas/24/10/41631842/amd-making-great-progress-with-ai-giants-jim-cramer-says-ai-chip-story-is-not-just-jense

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Advanced Micro Devices Inc. Price History

26.08.2024 - AMD Stock was up 5.6%

• AMD demonstrated robust bullish momentum today, surpassing market performance.
• The launch of AMD Instinct MI300X Accelerators on Oracle Cloud Infrastructure targeting AI applications likely bolstered positive market sentiment towards the company.
• The overall uptrend in semiconductor stocks, including AMD, was largely influenced by favorable quarterly outcomes from industry peers like Micron Technology.
• The intense rivalry between Intel and AMD in the semiconductor arena, with AMD capitalizing on AI-driven advancements, may have also played a role in the upswing of AMD's stock value.

30.09.2024 - AMD Stock was down 10.4%

• AMD's Q3 earnings surpassed expectations, but a weak Q4 outlook caused a sell-off.
• Despite advancements in AI and positive feedback from Jim Cramer, chip stocks, including AMD, faced a negative market sentiment.
• The post-earnings decline in AMD was viewed as a buying opportunity, reflecting short-term selling and faith in the company's long-term growth.
• Today's bearish movement in AMD was driven by profit-taking, performance concerns, and broader market impacts on chip stocks.

30.09.2024 - AMD Stock was down 10.4%

• Despite strong advancements in AI and surpassing Q3 earnings expectations, AMD's dim Q4 forecast raised concerns among investors, leading to a downtrend in its stock value.
• Negative attitudes towards chip stocks, including AMD, attributed to market sympathy and weak segments, played a role in the declining trend.
• The drop in AMD's stock price following earnings, viewed as a buying opportunity by some, reflects a turbulent period for the company as investors weigh mixed reactions to its performance and future prospects.

30.09.2024 - AMD Stock was down 8.0%

• AMD shares declined today, possibly influenced by a broader drop in chip stocks such as Nvidia and Broadcom, which were trading lower in line with AMD.
• Despite reporting strong Q3 earnings, with revenue surpassing estimates and the anticipation of significant growth opportunities, the stock slid as the forecast did not meet investor expectations, particularly when compared to competitors like Nvidia and Broadcom.
• Analysts on Wall Street see AMD's post-earnings decline as a chance to purchase shares, suggesting a potential rebound in the stock price in the future.
• The overall sentiment surrounding AMD is positive, with a significant 122% increase in data center revenue and promising growth prospects driven by the rising demand for its products.

30.09.2024 - AMD Stock was down 6.2%

• Despite AMD's recent drop in stock value following its financial report, this downturn is being viewed by some as an opportunity for investment, suggesting that the market may perceive the decrease as temporary and potentially undervalued.
• Despite witnessing robust growth in the AI sector, AMD's future outlook failed to excite investors, causing a decrease in stock value in comparison to competitors such as Nvidia and Broadcom, who have exhibited more significant gains in the year 2024.
• While AMD's Q3 financial results exceeded expectations, it appears that the market had anticipated even more robust performance, contributing to the bearish trend witnessed in trading.
• Speculation regarding Intel's projected sharp decline in quarterly revenue may have also influenced AMD's stock negatively, as challenges within the semiconductor industry have the potential to create a domino effect across competing companies.

19.08.2024 - AMD Stock was up 5.4%

• AMD's bullish movement could be attributed to the positive industry comparison against its competitors, showcasing its strength in the semiconductor sector.
• The uptick in AI-related stocks, including AMD, following the U.S. Federal Reserve's interest rate cut, might have also contributed to the bullish trend.
• Despite some bearish sentiment in the options market, the overall market sentiment towards AMD seems to have been overwhelmingly positive, potentially driving the stock's upward trajectory.
• Winning the Sony PlayStation 6 chip deal over Intel could have boosted investor confidence in AMD's future growth prospects, further fueling the bullish movement in the stock.

19.08.2024 - AMD Stock was up 5.1%

• The bullish movement in AMD's stock price could be attributed to the overall positive sentiment in the semiconductor industry, particularly with AI-related stocks like Nvidia and Broadcom also demonstrating strength.
• Despite some bearish tendencies in the options market for AMD, the overall market movement seems to have overridden these concerns, leading to the bullish performance.
• The announcement of AMD securing a multiyear chip deal with Sony for the PlayStation 6 over Intel could have boosted investor confidence in AMD's future prospects and contributed to the bullish movement.
• The decline in Intel's stock price following the loss of the Sony deal to AMD might have also indirectly benefited AMD as investors see AMD gaining a competitive edge in the semiconductor market.

10.09.2024 - AMD Stock was down 3.2%

• An influential investment firm purchasing AMD shares initially bolstered investor confidence, yet the anticipation surrounding Nvidia's upcoming next-gen GPUs unveiling at CES 2025 may have diverted attention from AMD's market position.
• Despite favorable industry sales trends and strategic acquisitions, the competitive rivalry with Nvidia and overall industry dynamics likely sparked investor apprehension, leading to the bearish movement in AMD's stock.
• The fiercely competitive landscape of the semiconductor sector, combined with the imminent advancements by Nvidia, potentially exerted downward pressure on AMD's stock price today.

04.09.2024 - AMD Stock was up 5.1%

• AMD's bullish movement could be attributed to its consistent outperformance in the market over the past 20 years. This long-term success and market capitalization may have instilled confidence in investors.
• The competitor analysis might have shed positive light on AMD's position within the semiconductor industry, potentially influencing investor sentiment and contributing to the bullish trend.
• The news about chip stocks like Nvidia and AMD trading lower due to reports of Beijing's focus on domestic AI chips could have indirectly benefited AMD by positioning it as a more stable and reliable option amidst industry uncertainties, leading to increased investor interest and a bullish market movement.

15.09.2024 - AMD Stock was down 6.1%

• AMD experienced a bearish movement today due to various factors, including:
• Concerns from analysts regarding AMD's growth potential in the face of competition from Nvidia and Intel in the PC market.
• An unexpected early earnings release from ASML, causing a ripple effect in the chip sector and affecting AMD's stock performance.
• General market weakness in chipmakers like Nvidia and AMD, potentially heightened by concerns over chip export restrictions under the Biden administration.
• Despite the overall market gains, AMD's stock price declined, reflecting the broader challenges encountered by the company amidst industry challenges and geopolitical uncertainties.

15.09.2024 - AMD Stock was down 5.4%

• AMD experienced a strong bearish movement, closing down 1.56% for the day.
• The news of potential export restrictions on advanced AI chips from AMD and Nvidia to specific countries likely contributed to the negative market sentiment.
• The bearish options activity on AMD, with 46% of traders showing bearish tendencies, also indicates a lack of confidence in the stock's short-term performance.
• The broader weakness in the chip sector, driven by concerns over the U.S.-China standoff and export curbs, further weighed down on AMD's stock price today.

31.09.2024 - AMD Stock was down 5.2%

• The launch of the new AMD Ryzen 7 9800X3D processor intended for gamers potentially created elevated expectations. However, market response may have been affected by uncertainties surrounding the product's actual performance and reception.
• While CEO Lisa Su conveyed an optimistic viewpoint on AMD's standing in the AI market, investors could have been underwhelmed by the company's Q4 projections, prompting a sell-off of shares.
• The increased investment from Cathie Wood in AMD initially drove the stock up. Yet, the subsequent decline might signify profit-taking or a change in market sentiment.
• Analysts pointing out the substantial long-term AI growth prospects for AMD may have been overshadowed by worries about competition from NVIDIA, leading to a negative impact on the stock's performance.