Advanced Micro Devices Inc. (NASDAQ: AMD), an American semiconductor company, has a market cap of nearly $186.51 Billion. In its Q1 2023, the company reported its net income to be negative $139.00 Million. The earnings per share (EPS) reported by the company was $0.60 while the estimation was $0.56.
Moreover, its reported revenue was $5.35 Billion, which was slightly up from the estimated revenue of $5.30 Billion. Now, for the upcoming Q2 2023 reports, the estimated EPS is $0.58 while revenue is expected to reach $5.33 Billion.
In 2022, the revenue of Advanced Micro Devices Inc. reached $23.60 Billion, most of which nearly $6.80 Billion came from its highest performing source at the moment, Gaming. Notably, the greatest contribution to the revenue figure was made by the U.S. which brought Advanced Micro Devices Inc. $8.05 Billion last year.
AMD Stock Price Analysis
According to Tradingview, a web-based social network for traders, on July 3, 2023, Monday, AMD stock closed at $115.82 with a 1.68% price gain. During the trading session of Monday, AMD stock opened at $115.16, noted high at $116.73 while low was $114.51.
It must be noted the stock has taken a bullish start this week. Meanwhile, a good trading volume can also be seen that may further push its price upwards.
As seen in the above price chart, AMD stock price drops a little bit as its pre-market price rests at $114.37. But as bulls have already shown their strength in its previous trading session, little price volatility can be seen in its upcoming trading session. The stock price traded little above its 20-day moving average. If the stock continues its bullishness, then the stock price may reach near to $118.00.
Often, last month, the RSI of AMD stock ranged upwards showing investors’ positive approach. However, near to the month end, the stock price slid down as bears showed their potential dominance.
Notably, for its upcoming trading session, AMD stock price showed decline in its pre-market price indicating bears’ activity in the current pre-market session. If they show their dominance on July 5, 2023, today’s trading session then the stock may take a dip. On the other hand, bulls will also try to keep up the stock price.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/05/will-amd-stock-take-another-surge-in-its-next-trading-session/