Advanced Micro Devices, Inc. AMD was a big mover last session, as the company saw its shares rise above 11% on the day. The stock rallied after Barron's published an article in its weekly issue appreciating the company’s progress, the fact that it is competing well with peers in the microprocessor and graphics processing unit markets, and the potential of the stock to double from the current levels. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $9.75 to $12.28 in the past one-month time frame.
In the last 30 days, the company has seen two upward and three downward estimate revisions and the Zacks Consensus Estimate moved higher, suggesting that more solid trading could be ahead for Advanced Micro Devices. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Advanced Micro Devices currently carries a Zacks Rank #3 (Hold).
A better-ranked stock from the broader Retail-Wholesale sector is Applied Optoelectronics, Inc. AAOI, which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report
Applied Optoelectronics, Inc. (AAOI): Free Stock Analysis Report
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