“Keep an eye on oversold shares of Advanced Micro Devices (AMD),” we said on April 28.  

“After catching support around $77, the stock is now back to $96.64. From here, we’d like to see it retest $110 initially. Helping, analysts at Susquehanna are out with a new price target of $135 with a positive rating on the oversold stock. Plus, Cathie Wood’s Ark Invest just picked up 24,800 shares of AMD for just over $2.14 million.”

At the time, AMD traded at around $95. As of Thursday, it’s up to $100.36. From here, we’d like to see the tech giant retest $115 near-term.

Helping, earnings have been strong.

In its first quarter, AMD EPS of 96 cents beat by three cents. Revenue of $7.44 billion, up 36% year over year, beat by $320 million.  For the second quarter of 2025, AMD expects revenue to be about $7.4 billion, plus or minus $300 million as compared to expectations for $7.24 billion.

“We delivered an outstanding start to 2025 as year-over-year growth accelerated for the fourth consecutive quarter driven by strength in our core businesses and expanding data center and AI momentum,” said Dr. Lisa Su, AMD chair and CEO. 

“Despite the dynamic macro and regulatory environment, our first quarter results and second quarter outlook highlight the strength of our differentiated product portfolio and consistent execution positioning us well for strong growth in 2025,” Su added.

Sincerely,

Ian Cooper