News Summary
Shares of Advanced Micro Devices (AMD) surged over 6% following news of a U.S. Commerce Department review for MI308 chip export licenses to China. The stock gained an additional 3%, hitting about $160, a peak not seen since late October. Competitors like Nvidia are also ready to resume chip exports. However, AMD anticipates up to $800 million in charges related to exports, while Nvidia faces a potential $5.5 billion revenue impact. Despite some challenges, AMD’s stock has more than doubled since April and continues to show strong technical indicators.
AMD Shares Soar on Chip Export News!
Big news is buzzing in the tech world today! Shares of Advanced Micro Devices (AMD) jumped over 6% just yesterday after it was announced that the U.S. Commerce Department is gearing up to review applications for MI308 chip export licenses to China. Not surprisingly, investors are rallying behind the tech giant, and it looks like they are not done yet.
In fact, AMD’s stock continued its upward trend by gaining another 3% on Wednesday, closing in at around $160. Can you believe it? This is the highest AMD has seen since late October! The excitement doesn’t stop here, as other industry players like Nvidia are also gearing up to resume chip exports to China. This is after they received confirmation that previous restrictions would be lifted. It seems that the tech sector is breathing a sigh of relief!
Financial Buzz: AMD and Nvidia Eye the Future
Of course, with all this good news comes some financial outlooks that we need to discuss. AMD is expecting to face charges up to a whopping $800 million related to the MI308 chip export. Meanwhile, Nvidia is looking at a much heavier revenue impact of up to $5.5 billion. Yikes!
However, it’s hard to overlook the impressive recovery AMD has made over the past few months. Their stock has more than doubled since hitting a low earlier this year in April. If you look at the year-to-date figures, AMD has gained about 33%—not too shabby! In fact, that performance outpaces Nvidia’s 28% rise during the same time frame. AMD is certainly making waves!
Technical Insights: What Do the Numbers Reveal?
For those interested in stock movement patterns, there’s some exciting technical analysis at play here. AMD’s shares have formed what’s known as a continuation pattern. This breakout occurred on the highest volume seen since mid-June—definitely a good sign for the company. Plus, a bullish momentum is confirmed by the relative strength index. But a word of caution: readings above 70 indicate that the stock could be overbought at this point.
Adding to this positive momentum is the fact that on Wednesday, AMD’s 50-day moving average crossed above the 200-day moving average, which signals a “golden cross.” Typically, this is seen as an indication of a potential upward trend. Certainly, tech enthusiasts and investors are keeping a close eye on how things develop.
Future Targets and Market Conditions
Analysts have noted that there are overhead resistance levels at $187 and suggest a potential rally target of $215 if AMD can successfully close above that area. On the flip side, some initial support levels are set at $148, while a deeper pullback could test the waters at about $123.
But it’s not all sunshine and rainbows just yet. Tensions between the U.S. and China continue, especially concerning trade disputes and technology export restrictions. Both AMD and Nvidia are making sure their chips comply with U.S. trade regulations as they navigate this complex landscape.
Big Personalities and Upcoming Events
So, whether you’re an investor, a tech enthusiast, or just someone keeping tabs on industry happenings, there’s quite a lot unfolding in the world of AMD and Nvidia. Buckle up, because it looks like this ride isn’t over yet!
Deeper Dive: News & Info About This Topic
- Investopedia: AMD Stock Continues Surging
- Bloomberg: AMD Restart MI308 Sales to China
- South China Morning Post: Nvidia AMD Market Share
- CNBC: AMD MI308 AI Chip China
- Wikipedia: Advanced Micro Devices
Author: STAFF HERE LOS ANGELES WRITER
LOS ANGELES STAFF WRITER The LOS ANGELES STAFF WRITER represents the experienced team at HERELosAngeles.com, your go-to source for actionable local news and information in Los Angeles, Los Angeles County, and beyond, specializing in "news you can use" with coverage of product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise from years of dedicated reporting and strong community input, including local press releases and business updates, while delivering top reporting on high-value events like the Academy Awards, LA Auto Show, and Los Angeles Marathon, extending coverage to key organizations such as the Los Angeles Area Chamber of Commerce and the Los Angeles Tourism & Convention Board, plus leading businesses in entertainment and technology like Warner Bros. and SpaceX, and as part of the broader HERE network including HEREAnaheim.com , HERECostaMesa.com , HEREHuntingtonBeach.com , and HERESantaAna.com , providing comprehensive, credible insights into Southern California's dynamic landscape. HERE Anaheim HERE Beverly Hills HERE Coronado HERE Costa Mesa HERE Hollywood HERE Huntington Beach HERE Long Beach HERE Los Angeles HERE Mission Viejo HERE San Diego HERE Santa Ana
