AMD Q2: A 20% Pullback, Reset Expectations, And A Strong Revenue Growth Outlook (Rating Upgrade)
AMDAMD(AMD) Seeking Alpha·2024-08-01 18:22
JHVEPhoto What Happened Advanced Micro Devices' (NASDAQ:AMD) stock had a strong rebound following its 2Q earnings report. Initially, the stock rallied by 12%, but the gain moderated to 7% the next day. This intraday pullback was even more overshadowed by NVIDIA's (NVDA) 12% rally. This indicates less robust upside momentum for AMD, as the stock has remained below the 200-day MA. In my previous coverage, I issued a sell rating on the stock due to concerns that the company's strong growth in the data cent ...