Market Analysis: AMD Share Price on the Rise After Financial Statement Release



  • Advanced Micro Devices EPS of USD 58 cents (Wall Street Consensus = 57 cents);
  • Q2 revenue of USD 5.36 billion (Analysts expectation = USD 5.3 billion).


  • revenue from data centers decreased by 11% compared to the same period last year;
  • PC revenue fell 54% year-over-year: the pandemic is fading.

Particular attention of investors was attracted by the words of CEO Lisa Su regarding AI. According to her, by 2027 the market for artificial intelligence processors in data centers will exceed USD 150 billion. She also noted that in Q2, the company's AI business grew 7 times.

AMD's share price jumped up +3% after the report, which was published after the end of the main trading session. At the same time, the AMD stock chart shows mixed signals.

Bullish technical analysis arguments for AMD stock:

  • AMD share price continues to rise within the rising channel in 2023, acting significantly stronger than the S&P 500 stock market index;
  • AMD's USD 110 support level, originating from the May bullish gap, has confirmed its strength.

Bearish arguments:

  • After a jump related to reporting, the price decreases in the premarket. A long upper shadow is a sign that the first positive emotional reaction could be wrong;
  • AMD's share price is experiencing resistance near the USD 122 level, which originates from the low of the bear bar on June 13 (the day the NASDAQ exchange recorded the largest trading volumes for the spring-summer, which indicates selling pressure).

According to MarketWatch, the average target price for AMD shares is USD 137.50 —  analysts are positive about the prospects, seeing the renewal of the historical maximum.

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Shares

Hong Kong-listed Chinese Insurer Goes on Rally as Western Giants Retract NFLX Stock Price Falls Despite Subscriber Growth UnitedHealth (UNH) Share Price Surges after Strong Report TSLA Analysis: Price Recovers after Disastrous Report High Hopes for Amazon as Analysts Look at Earnings Call Potential

Latest articles


Germany's DAX 40 Index Flying High Despite Pessimistic National Outlook

For a number of years now, there has been a lot of discourse over the current situation and the future of the German domestic economy.

From both inside Germany and globally, analysts, government officials, and corporate leaders have demonstrated a

Forex Analysis

Volatility in the Pound Is Rising, the Euro is Consolidating


At the end of last week, the British currency fell sharply, testing a significant support level at 1.2300. The resumption of the downward trend for the pair became possible after some statements by British officials:

  • On Wednesday,

The Price of Gold XAU/USD Shows Strongest Fall in Almost 2 Years

On Monday, the price of gold fell from USD 2,386 to USD 2,333 per ounce — this is the strongest drop in one day in almost 2 years, according to Bloomberg. On Tuesday morning in the Asian session, the

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.