What's Going On With AMD Shares
Portfolio Pulse from Henry Khederian
Advanced Micro Devices, Inc. (AMD) shares are trading higher by 1.7% to $117.80, rebounding after recent weakness due to lower than expected third-quarter guidance and a downgrade of the US's long-term credit rating by Fitch. Morgan Stanley has called the recent selloff a buying opportunity, citing potential growth from the launch of the MI300 data center GPU in Q4 and partnerships in the AI space. AMD's Q2 earnings per share were 58 cents, beating estimates but down 44.76% YoY.
August 07, 2023 | 2:44 pm
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AMD shares are rebounding after a recent selloff, with Morgan Stanley seeing this as a buying opportunity. The company's focus on data centers and AI partnerships are seen as key growth drivers.
AMD's shares are rebounding after a recent selloff, which is a positive sign. Morgan Stanley's endorsement of the stock as a buying opportunity, along with the potential growth from the launch of the MI300 data center GPU and partnerships in the AI space, are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100