Trading Strategies For Advanced Micro Devices Before And After Q1 Earnings
Portfolio Pulse from Melanie Schaffer
Advanced Micro Devices, Inc (AMD) is trading flat ahead of its Q1 earnings, with analysts expecting earnings of 61 cents per share on revenues of $5.46 billion. Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on AMD with a price target of $250. The Spear Alpha ETF (SPRX), which includes AMD as one of its top holdings, offers diversification for investors bullish on AMD. SPRX has seen a 60% increase over the last twelve months. AMD's stock is currently in an uptrend, but technical analysis suggests the possibility of a local top.
April 30, 2024 | 6:45 pm
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POSITIVE IMPACT
SPRX, an ETF with AMD as a top holding, offers a diversified investment option for those bullish on AMD. The ETF has seen significant growth, up about 60% over the last twelve months.
SPRX's performance and its inclusion of AMD as a top holding make it an attractive option for investors looking to capitalize on AMD's potential post-earnings performance while mitigating risk through diversification.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
AMD is anticipated to report Q1 earnings with expectations set at 61 cents per share on revenues of $5.46 billion. The stock is currently in an uptrend, but faces potential volatility post-earnings.
Given the historical performance post-earnings and the current analyst expectations, AMD's stock may experience short-term volatility. The uptrend and analyst buy rating suggest potential for growth, but the technical analysis indicates a possible local top, adding uncertainty.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
NVDA is one of the top holdings in the SPRX ETF, indicating its relevance to investors interested in technology and semiconductor stocks.
NVDA's position as a top holding in SPRX suggests a bullish outlook from the ETF on the stock, potentially impacting investor sentiment and NVDA's stock performance indirectly.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Zscaler, Inc (ZS) is another significant holding in the SPRX ETF, aligning with the ETF's focus on technology and cybersecurity.
ZS's inclusion in SPRX reflects a positive outlook from the ETF, which may influence investor perception and ZS's market performance, albeit indirectly.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50