The shares of chipmaker Advanced Micro Devices (AMD) reached all-time high of $94.28 on September 2. The equity recently plunged to pressure at its previously supportive moving average, down 10.1%. Investors shouldn't be discouraged just yet, though, especially considering a bullish trendline has just emerged. And if history is any indicator, it could send the stock right back up the charts.
Fundamentals are also supporting to cosider AMD as a better choise for investent comparing to it is rival Intel. Intel recently has announced further delays in producing its seven-nanometer server processors, while AMD will already be moving on to more advanced chips. AMD's Zen 3 Milan chips will start shipping later in 2020, while the Zen 4 five-nanometer chips are in development.
We think the AMD stock will head for $100 range, taking momentum from the beginning of October; the new AMD Zen 3 CPU architecture is to be unveiled Oct. 8, and RDNA2 GPU architecture is scheduled for release Oct. 28. AMD promises big performance and efficiency gains in their upcoming technologies.
Fundamentals are also supporting to cosider AMD as a better choise for investent comparing to it is rival Intel. Intel recently has announced further delays in producing its seven-nanometer server processors, while AMD will already be moving on to more advanced chips. AMD's Zen 3 Milan chips will start shipping later in 2020, while the Zen 4 five-nanometer chips are in development.
We think the AMD stock will head for $100 range, taking momentum from the beginning of October; the new AMD Zen 3 CPU architecture is to be unveiled Oct. 8, and RDNA2 GPU architecture is scheduled for release Oct. 28. AMD promises big performance and efficiency gains in their upcoming technologies.