$AMD(AMD)$
Not higher as feared by many.
This helped chip stocks to push higher up, including AMD that gained +9.06% on Thu, 29 Feb 2024.
Some analysts have attributed AMD's stock price rising as a result of $NVIDIA Corp(NVDA)$ meteoric rise.
It may be true but AMD has a firm support at or above its 21-day exponential moving average.
And that is a "good" thing.
In 2024, AMD is ramping up production of its MI300 AI chip, as Internet companies upgrade data centres for processing AI applications and workloads.
AMD's big picture is by end 2024 - data centre products will account for 50% of AMD revenue, up from the 10% to 15%, 5 years ago.
For now, the future looks bright.
And if the Fed really begins trimming interest rates from H2 2024 onwards, the euphoria will push the US market up another level.
Do you think AMD will be a top gainer this week?
Repost and like this ok. It is an encouragement of sort to spur me to do better...
Thanks...
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Pls help to "Re-post". Tks! Rating is important (to me).
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