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Intro
Since my rating upgrade to a buy in April, Advanced Micro Devices, Inc. (NASDAQ:AMD) (TSX:AMD:CA) has seen gains of over 30%. I correctly forecasted the bottom, and I believe the stock remains a buy now. In
AMD Stock Continues To Be A No Brainer (Technical Analysis)
Summary
- AMD remains a buy as technicals show a bullish outlook, with strong support levels and an intact uptrend, despite some caution from Fibonacci Fan Lines.
- Q1 earnings were impressive, with 36% YoY revenue growth and 57% YoY growth in the Data Center segment, highlighting AI business strength.
- Q2 guidance projects continued above-average revenue growth, and gross margins would be strong if not for China's export controls.
- The P/S ratio is irrationally low given robust fundamentals, indicating room for multiple expansion and justifying my reiterated buy rating.
I'm a full-time investor with a strong focus on the tech sector. I graduated with a Bachelor of Commerce Degree with Distinction, major in Finance. I'm also a proud lifetime member of the Beta Gamma Sigma International Business Honour Society.My motto is John Pierpont Morgan's phrase: 'First-Class Business In A First-Class Way.' I strive to be a premier provider of technical analysis articles on Seeking Alpha by sharing high-quality in-depth pieces with our community of readers.My core values are: Excellence, Integrity, Transparency, & Respect. I always, to the best of my ability, hold true to these values which I believe are key for long-term success.Lastly, I would like to invite all of my readers to leave their constructive criticism and feedback in the comments section so that I can further enhance the quality of my work moving forward. Thank you and God Bless America!
Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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