• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

AI Is Changing Public Relations — Here’s How to Stay in Control

July 18, 2025

President Donald Trump Signs GENIUS Act: ‘Crypto Capital’

July 18, 2025

Meet the Person Who Invented Plastic that Dissolves in Water

July 18, 2025
Facebook Twitter Instagram
Trending
  • AI Is Changing Public Relations — Here’s How to Stay in Control
  • President Donald Trump Signs GENIUS Act: ‘Crypto Capital’
  • Meet the Person Who Invented Plastic that Dissolves in Water
  • Why People Leave Medicare Advantage Plans And Why It Matters To You
  • Popular Artificial Sweetener Linked to Strokes and Heart Attacks — Again
  • Afraid AI Will Take Your Job? Here’s What to Do (Instead of Panicking)
  • Elon Musk’s xAI Is Hiring Engineers With Salaries Up to $440K
  • ChatGPT Agent Creates Slide Decks, Spreadsheets From Prompts
Friday, July 18
Facebook Twitter Instagram
FintechoPro
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
FintechoPro
Home » AMD’s stock breaks with chip selloff to finish week higher as analyst cites ‘important buying opportunity’
Investing

AMD’s stock breaks with chip selloff to finish week higher as analyst cites ‘important buying opportunity’

News RoomBy News RoomAugust 6, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Advanced Micro Devices Inc. went against the grain this past week as shares not only outperformed AI-rivals like Nvidia Corp. on Friday, but finished the week higher when the rest of the sector sold off.

AMD
AMD,
+2.36%
shares rose 2.4% Friday to close at $115.82, or for a 2.6% gain on week, while Nvidia
NVDA,
+0.37%
shares gained 0.4% on the day to close at $446.80, but finished at a loss of 4.4% on the week. In comparison, the PHLX Semiconductor Index
SOX
declined 0.2% Friday for a 4% weekly drop. Nvidia reports its earnings after the market close on Aug. 23.

Shares of Intel Corp.
INTC,
+1.14%
fell 4.6% for the week, contributing to the Dow Jones Industrial Average’s
DJIA
weekly decline of 1.1%.

Tech stocks had a rough midweek, their recent outsized gains becoming outsized losses with respect to the broader market, after Fitch Ratings cut its top U.S. credit rating to AA+ from AAA late Tuesday.

High flyers like Nvidia, with its more than 200% gains on the year, and chip-related stocks — with the SOX index’s more than 45% rally — all fell sharply on Wednesday. That move included a drop for AMD shares, which had been on the rise after hours Tuesday following an earnings beat.

Read: Palantir earnings: What to expect from the software company riding the AI wave

But while that blow left the rest of the sector dazed for the rest of the week, and some analysts questioned if the chip maker’s expectations were too high, a wave of analyst support for AMD followed, and turned it into one of the week’s few winning chip stocks.

Following Benchmark analyst Cody Acree calling AMD “among the best positioned companies” to take advantage of AI, Morgan Stanley analyst Joseph Moore, in a Thursday-dated note released to non-clients Friday, said the “post quarter selloff” of AMD “creates an important buying opportunity.”

Moore has an overweight rating on AMD and a $138 price target.

“The AMD quarter should have been a relief, given near universal sentiment that they would guide well below expectations for servers (they didn’t), and that their expectation for margin recovery in PCs was unrealistic (it wasn’t),” Moore said in the note.

Read: Qualcomm stock logs worst day since pandemic shortages as chip glut produces ‘lackluster’ earnings

Other chip makers like Qualcomm Inc.
QCOM,
+2.36%
didn’t have it as easy, with shares finishing the week down 6.2%, after the phone handset supplier reported it was still dealing with inventory drawdowns.

In the coveted AI data-center category, Moore said interest in AMD’s rollout of MI300 class CPU + GPUs is high.

“Substantial demand from customers is known, but the timing of qualifications remains a key variable,” Moore said. “There will be inevitably be surprises
when bringing up new silicon.”

Read: AMD stock rises 3% after earnings beat, CEO predicts ‘multiple winners’ in AI race

“There will also be a competitive reaction to first silicon; for example, we don’t think that Nvidia will price inference products aggressively to compete with powerpoint presentations about chips that aren’t out, but they will be fully engaged when AMD is trying to convert initial interest into wins,” Moore wrote.

Read: AMD among ‘best positioned’ AI players, analyst says

“The supply chain is building to the best case, and this is a chip with the longest
manufacturing lead times that we have ever seen, at 8 months or so, in a market
where customer interest is the highest we have ever seen,” the Morgan Stanley analyst noted.

Of the 45 analysts surveyed by FactSet, 30 have buy ratings, and 15 have hold ratings, along with an average price target of $140.42.

In the broader market, the S&P 500 index
SPX
declined 0.5% Friday to finish the week down 2.3%; and the tech-heavy Nasdaq Composite
COMP
slipped 0.4%, to finish the week down 2.9%

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

President Donald Trump Signs GENIUS Act: ‘Crypto Capital’

Investing July 18, 2025

ChatGPT Agent Creates Slide Decks, Spreadsheets From Prompts

Investing July 17, 2025

Barbara Corcoran: If You Want to Be Rich, Follow These Rules

Investing July 16, 2025

Perplexity CEO: AI Coding Tools Transformed the Way We Work

Investing July 15, 2025

How I Went From Side Hustle to 7 Figures Using These 4 AI Tools (No Tech Skills Needed)

Investing July 13, 2025

Why This Market Dip Is Your Chance to Accelerate Product Velocity, Win Customers and Own the Next Cycle

Investing July 12, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

President Donald Trump Signs GENIUS Act: ‘Crypto Capital’

July 18, 20250 Views

Meet the Person Who Invented Plastic that Dissolves in Water

July 18, 20250 Views

Why People Leave Medicare Advantage Plans And Why It Matters To You

July 18, 20250 Views

Popular Artificial Sweetener Linked to Strokes and Heart Attacks — Again

July 18, 20250 Views
Don't Miss

Afraid AI Will Take Your Job? Here’s What to Do (Instead of Panicking)

By News RoomJuly 18, 2025

PeopleImages.com – Yuri A / Shutterstock.comAI is an imperfect technology that’s still trying to prove…

Elon Musk’s xAI Is Hiring Engineers With Salaries Up to $440K

July 17, 2025

ChatGPT Agent Creates Slide Decks, Spreadsheets From Prompts

July 17, 2025

Why Most Startups Fail to Get National Press — and What To Do Instead

July 17, 2025
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 FintechoPro. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.