AMD Stock Price Today: Advanced Micro Devices, Inc. looks poised to weather the next market turndown

AMD's stock price has been stabilizing on higher ground amid the latest coronavirus headlines.
Demand for its chips from Microsoft and Sony put the firm in pole position to gain ground.
Another downtrend in stocks due to COVID-19 may pass over AMD.

Yohay Elam FXStreet

AMD's stock price has been fluctuating in the high $40s in the first days of the fourth quarter, seeming to hesitate below the $50 level. The Santa Clara California based firm – one of the veterans in Silicon Valley, produces chips that are used by various firms.

While stock markets tumbled amid the coronavirus crisis, Advanced Micro Devices, as the company is fully known, held its ground. In recent days, global equities have stabilized, and AMD's share are looking for a new direction.

AMD Stock News

Several recent developments point to the upside. Both Microsoft and Sony are set to launch new gaming consoles using AMD chips later this year. Both products can be shipped and used at home – and are unaffected by stay-at-home orders.

Intel, AMD's fierce competitor in the Valley, has been lagging behind and allowed AMD to capture market share, according to Hans Mosesmann, managing director at Rosenblatt Securities. A recent increase in revenues may be only the beginning.

With COVID-19 cases continuing to rise, lockdowns are likely here to stay for some time, and stocks may fall, and the chipmakers stock prices have room to grow.

AMD Stock Price April 8 9 2020 technical

The firm led by Lisa Su is has seen a 52-week low of $26.03 and peaked at $59.27. It is set to report earning for the first quarter later on.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD: Pound Sterling ticks up against US Dollar in countdown to US NFP

The Pound Sterling trades marginally higher to near 1.3365 against the US Dollar during the Asian trading session on Friday. The GBP/USD pair edges up as the US Dollar ticks down ahead of the United States Nonfarm Payrolls data for February, which will be published at 13:30 GMT.

Gold rises but remains on track for weekly loss in five weeks

Gold price recovers its recent losses from the previous session on Friday. The yellow metal advances as the broader precious metals market rebounds on safe-haven demand. However, the yellow metal is on track for its first weekly decline in five weeks as escalating Middle East tensions push oil prices higher, fueling inflation concerns and reducing bets on Federal Reserve rate cuts.

Bitcoin, Ethereum and Ripple at risk as US-Iran war extends

Bitcoin, Ethereum, and Ripple trade cautiously at press time on Friday, close to key support levels after a roughly 2% pullback the previous day. Bitcoin holds above $71,000, Ethereum at $2,000, and XRP continues to consolidate in a sideways range.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.