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AMD trade ideas

AMDs not doneFor the most 2024, AMD has taken a seat back in the market - being up less than 6% YTD - while wall street AI darling NASDAQ:NVDA has enjoyed major growth, rallying up over 140% YTD. Although AMD is known for having one of the most overvalued Forward P/E ratios, from a technical perspective and overall market outlook for Q4 2024, I think there is still some room for AMD to climb higher. Since Q4 2022, AMD has remained within this rising channel testing support and resistance in a series of higher highs and higher lows, and currently sits at a key support area on the weekly chart. AMD's 246B "miniscule" market cap compared to NVDA's 2.9T requires less trading volume to see a significant move up, and with rate cuts tipped in the markets favor for Q4, I think we can easily see a 175$ - 185$ AMD by years end. It’s also good to see that Trading View’s current analyst rating sports AMD as a “buy”, while the average 1Y price forecast sits at 186$. A lot of people cover this so stock so I will be looking to cover this on a weekly basis. Best of luck!
NASDAQ:AMDLong
by LaMASIA_100
AMD: New bullish wave to $197 has started.Advanced Micro Devices have entered a healthy bullish 1D technical outlook (RSI = 59.730, MACD = 0.360, ADX = 17.320) as the price crossed over the 1D MA200 today, with the 1D RSI above its MA since yesterday. Technically, it has started the 3rd bullish wave of the 3 month Channel Up. The two waves before this have risen by at least +31%, and that is our next target (TP = 197.00) for the next 2 months. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:AMDLong
by InvestingScope
10
AMD Technical Analysis on Oct. 29, 20241. Trend Analysis and Chart Patterns: Ascending Trendline Support: AMD is showing an uptrend with higher lows, as indicated by the ascending trendline. This trendline can act as support, and a break below could signal a potential shift in trend. Bullish Momentum: AMD has recently broken above a previous consolidation, which can indicate bullish momentum if it holds above the breakout level. 2. Support and Resistance Levels: Immediate Resistance Levels: 161.31 - 163.00: AMD is close to this resistance zone, where selling pressure might emerge. If it breaks above 163, it could indicate continued bullish strength. Support Levels: 158.28: This level aligns with recent consolidation and might act as short-term support if AMD retraces. 152.33: A significant support level from a previous pivot low, marking a potential reversal point in case of a deeper pullback. 150.55: Key support below, where buyers may step in if AMD sees a sharp decline. 3. MACD and Volume Analysis: MACD: Slight bearish crossover, indicating weakening momentum. If MACD remains below the signal line, it may indicate a pullback or consolidation phase. Volume: Recent volume spikes on upward moves suggest strong buying interest. Lower volume on pullbacks would support a continuation of the uptrend. 4. Trading Strategy: Scalping Opportunities: Long Entry: Consider going long around 158.28 if it shows a bounce, with a target towards 161.31 and beyond. Short Entry: If AMD breaks below 158.28 with strong volume, a short position could target 155.78 or lower. Swing Trading Strategy: Bullish Scenario: A break above 161.31 with strong volume could indicate an opportunity to swing trade to 163 or higher. Look for confirmation with a higher low forming above 158.28. Bearish Scenario: A break below the ascending trendline and 152.33 may suggest a short-term bearish trend reversal. In this case, 150.55 would be a possible target. 5. Key Levels Summary: Support Zones: 158.28, 155.78, 152.33, 150.55 Resistance Zones: 161.31, 163.00 6. Expected Direction and Price Action Today: Open: Expect AMD to test 161.31 at open. If it fails to break this resistance, it may pull back to test support levels around 158.28. During the Day: If 158.28 holds as support, AMD could see a bounce and consolidate around 161.31. If this level breaks, expect it to test 163. Close: Likely bullish close if it holds above 161.31, but bearish sentiment could emerge if it fails to break this level and dips below 158.28. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results. Conduct thorough research or consult a financial advisor before making trading decisions.
NASDAQ:AMD
by BullBearInsights
Earning report Today! Can $AMD breakout the downtrend line? Technically, AMD is closing to the downtrend line again. There was a FAKEOUT three weeks before.So will NASDAQ:AMD truly breakout the downtrend line this time? It will depends on the earnings report today! Here are 3 Things I'm Watching in NASDAQ:AMD 's Earnings on Tuesday 1. MI300 Series: Flagship AI GPU • Their new Instinct MI300 series GPUs are built to compete directly with NASDAQ:NVDA H100 chips, supporting both training and inference for large-scale AI models. The MI300 offers high memory capacity and multi-chip module (MCM) architecture, making it suitable for AI workloads that require massive data processing. Early deployments include partnerships with key cloud providers like NASDAQ:MSFT Azure -- which is leveraging AMD’s GPUs for its AI infrastructure. 2. AI-Powered Accelerated Processing Units (APUs) • Their APUs, which combine CPU and GPU capabilities on a single chip, are designed to handle AI tasks efficiently in edge computing and consumer applications. For instance, AMD’s latest Ryzen AI-powered APUs provide AI acceleration directly in laptops -- aiming to improve tasks like image processing and natural language interactions. 3. Capturing AI Market Share • Their approach is centered around capturing a larger share of the rapidly growing AI semiconductor market, which is projected to surpass $400B by 2030. As AI models become more sophisticated, they require increased computational resources. AMD’s focus on energy efficiency and competitive pricing allows it to offer alternatives to Nvidia, making it more appealing to enterprises managing rising energy costs and budget constraints. Unlike Nvidia, which has historically focused on high-end GPUs, AMD’s diverse product mix, including CPUs, APUs, and data center GPUs, enables it to serve a broader range of AI use cases. This could lead to more consistent revenue growth as AI applications proliferate beyond just data centers -- spreading into edge devices and personal computing.
NASDAQ:AMDLong
by xugina78
AMD correction done. TIME TO RISE! Huge bargain deal.AMD went on a good correction phase after touching a recent peak at 220 area following the market's long term trim action. Profit takers has swept the market even the top guns with the likes of NVDA, TSLA, AMZN, AAPL. Based on recent data, it looks like the market's correction has more-or-less come to an end -- and net positioning for most blue chip stocks has already commenced. AMD is one stock which you can't dismissed it's price growth potential after that huge discount drop. You know it's a bargain when a growth company gives it to you -- and not just a growth company, a major chipmaker / tech giant which the world can't live without. with the advent of AI and modern tech revolutions, AMD is one stock you can bet in the next 50-100 years. Based on recent daily data, we are currently bouncing off a major order block support at 150.0 area -- and a significant shift has been spotted. More series of ascending action is expected from this range -- with a possible breakout of its recent peak at 220 this year. This one, I won't doubt. Spotted at 150.0 TAYOR.
NASDAQ:AMDLong
by JSAL
3
Levels to manage $AMD while waiting for its MI350 and MI390Copy & Paste from Morgan Stanley's note: Can MI350 be the Rome of AI? Yes, it's possible. The company's scramble to add AI engineers through two transactions is actually a good sign. While bears see it as an indication of a software ecosystem that is behind the competition, we thought that anyway, and the company making an aggressive push to turn that around quickly rather than accepting an immature position and fixing it a little bit at a time is certainly a positive. AMD executes very well, having never meaningfully missing a product launch target in the Lisa Su era, which we find exceptional. And unlike the initial server ramp, Instinct will benefit from being directly tied to the server CPUs that are becoming dominant in cloud- which gives them leverage to at least build a ubiquitous presence across multiple clouds. AMD opened the product announcements with the launch of their 5th gen EPYC server processor (Turin), which should build on their leading position with cloud customers. Gen 5 is platform compatible with AMD's zen 4 lineup and will feature two primary product families, one more enterprise focused "scale up" set of 4nm skews and cloud focused "scale out" 3nm versions where the high end 192 core product offers 2.7x performance vs 64 core Emerald Rapids from Intel (launched late last year) on an industry standard integer score benchmark. With AMD highlighting leading performance vs Intel in other areas including ML and AI workloads. Both families of zen 5 utilize a 6mn IO die. Representatives from google cloud, and Oracle Cloud were on stage with positive endorsements for the new products.
NASDAQ:AMDLong
by KhanhC.Hoang
Advanced Micro Devices | AMD Team RED is READY As with any competitor, a quarterly earnings report from a peer can provide great insight into the market. For Advanced Micro Devices, the Q2'23 earnings report from Intel provides great views on the surging demand for AI chips and a rebound in PC demand crucial for AMD The most immediate signal from Intel beating Q2'23 estimates and guiding up for Q3 is the rebound in PC demand. Most importantly, the inventory correction appears over with OEMs no longer digesting chip inventory.Back in Q3'22, AMD shocked the market by cutting PC revenue estimates by $1 billion. The company quickly went from $2 billion in quarterly CPU sales for PCs to less than $1 billion. Intel still reported Q2 Client Computing revenue was down 12% YoY to $6.8 billion, but the number was up $1.0 billion sequentially. The chip giant guided up Q3 revenue to $13.4 billion, up $0.5 billion sequentially.In Q1'23, AMD reported that client revenues had fallen further to only $739 million. AMD CPU revenues are now far over $1 billion per quarter below the peak levels providing substantial upside potential when the PC market normalizes. Intel discussed a mixed picture for their business in the near term due to AI. The chip giant is seeing a wallet share shift from the sever CPU spend towards AI chips.The move is both good and bad for AMD. The company has the MI300 AI GPU chip hitting the market in Q4 providing a strong competitor to the booming demand for the H100 from Nvidia, but the chip isn't out on the market yet. In the near term, AMD may see some suppressed data center demand while heading into 2024. Ultimately, the company should see upside from AI demand for the MI300 along with the Alveo AI accelerator.On the Q2'23 earnings call, Intel CEO Pat Gelsinger suggested the AI pipeline for 2024 had surged to $1 billion: In my formal remarks, we said we now have over $1 billion of pipeline, 6x in the last quarter. Going back a few months, Morgan Stanley had estimated the AI potential for AMD was only $400 million with upside potential to $1.2 billion. The Intel forecasts would suggest the AI potential for AMD is far higher next year when the MI300 is in full-scale production. Nvidia guided up current quarter sales estimates by 50% to over $11 billion. The company suggested data center sales would reach $7+ billion in the quarter. AMD has only seen data center sales reach $1.3 billion in quarterly sales leaving a huge gap from Nvidia. Even Intel still hit $4.0 billion in data center sales during Q2'23, though the amount is down nearly 20% form 2022 levels due in part to losing market share to AMD. The big issue for AMD is whether data center sales growth stalls causing a miss to 2H sales targets while booming AI demand ultimately boosts sales starting in Q1'24, or maybe Q4. The chip company peaked at quarterly sales of $6.6 billion back Q2'22 and the current quarterly analyst estimates aren't very aggressive. A rebound in PC demand to more normalized levels places AMD back at the Q4'23 revenue target of $6.5 billion alone. A PC rebound to normal digestion ($2 billion quarterly run rate) along with higher data center or AI demand leads to vastly higher revenues in 2024. The current analysts aren't even factoring in much growth in the Q2'24 revenue estimate of $6.76 billion. The amount is just 4% upside from Q2'22 despite potentially surging demand from AMD entering the AI GPU space. AMD is set to report earrings after the close on August 1. Investors should focus less on the Q2 numbers or even Q3 guidance and focus more on a return to more normalized revenue levels plus the upside from AI.Our view has long held that AMD has the earnings potential of $5 to $6 and the AI opportunity is all upside to this view. The key investor takeaway is that AMD is still $50 below all time highs while Nvidia has soared over $100 above the late 2021 highs. Investors should use the current weakness in AMD to load up on the stock while leaving some capital to buy any weakness following Q2 earnings due to the potential for near term disappointment leading to long term opportunities.
NASDAQ:AMDLong
by moonypto
12