Advanced Micro Devices Shows Mixed Signals Heading Into Highly Anticipated AI Event: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
Advanced Micro Devices (AMD) closed 3.42% higher on Monday ahead of its highly anticipated Data Center and AI Technology Premiere event. The stock has doubled in value this year and surged more than 60% since May 3, driven by the rise of AI stocks. AMD may break through resistance near the $130 mark, but the investor event could cause the stock to trade higher or lower.
June 13, 2023 | 1:06 pm
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AMD's stock closed 3.42% higher ahead of its Data Center and AI Technology Premiere event. The stock may break through resistance near the $130 mark, but the investor event could cause the stock to trade higher or lower.
AMD's stock has been on a strong upward trend, driven by the rise of AI stocks. The upcoming Data Center and AI Technology Premiere event could cause the stock to break through resistance near the $130 mark, but it could also cause the stock to trade lower if the presentation is a 'sell-the-news' event. The stock's direction will depend on the outcome of the event and investor sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100