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What's Going On With AMD's Stock Today?

July 29, 2021 11:17 am
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What's Going On With AMD's Stock Today?

Advanced Micro Devices Inc (NASDAQ:AMD) is trading higher Thursday on continued strength following the company's better-than-expected second-quarter financial results. The stock also broke the $100 resistance level and continued upward.

AMD reported quarterly earnings of 63 cents per share on Tuesday, which beat the estimate of 54 cents per share. The company reported quarterly revenue of $3.85 billion, which beat the estimate of $3.62 billion.

AMD said it expects third-quarter revenue to be in a range of $4 billion to $4.2 billion, which was higher than the estimate of $3.82 billion.

Analyst Assessment: Rosenblatt analyst Hans Mosesmann maintained AMD with a Buy rating and raised the price target from $135 to $150.

Susquehanna analyst Christopher Rolland maintained AMD with a Positive rating and raised the price target from $125 to $130.

Benchmark analyst David Williams maintained AMD with a Buy rating and raised the price target from $100 to $110.

Price Action: AMD is making a new 52-week high in trading today. It is up 11.63% year-to-date.

At last check Thursday, the stock was up 4.84% at $102.64.

Photo: courtesy of AMD.

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