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.

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