Advanced Micro Devices Stock Forecast: US Retail Sales send market lower, but AMD is set up for success

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Advanced Micro Devices Stock Forecast: US Retail Sales send market lower, but AMD is set up for success
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Advanced Micro Devices (AMD), the primary semiconductor competitor to Nvidia (NVDA), has seen its stock price set up for at least a 12% rally over th

AMD has retested a long-term resistance trendline and looks ready to rally. Traders should focus on the $119 level, which is nearly 12% higher than current price action. Citi analysts think AMD should benefit from higher notebooks sales in September. Investors wonder how quickly AMD’s MI300 accelerator chip will ramp up production and sales. e past week as shares have broken through a descending topline and then used it as support.

Officially called semiconductor devices, these computer chips rely on semiconductor materials like silicon and gallium arsenide to process the electrical current that produces the modern world of computing. They come in many shapes, sizes, enhancements and configurations such as diodes, transistors and integrated circuits to more complicated applications like DRAM memory, simple processors and even GPUs.

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