- AMD rose 1.6% on Thursday.
- Advanced Micro Devices increased its wafer supply deal with GlobalFoundries.
- Thursday's AMD price surged above the 21-day moving average.
Advanced Micro Devices (AMD) stock rose 1.6% on Thursday and broke a prior swing high with a session high of $149. Though the end of the session pushed the price down below $147, AMD price surmounted the 21-day moving average for the first time since December 3. This is a sign that this rally could continue through the new year.
Advanced Micro Devices Stock News: AMD adds $500 million to silicon wafer deal with GlobalFoundries
Advanced Micro Devices amended a regulatory filing on Thursday. The chip maker has expanded the value of its $1.6 billion deal with former subsidiary GlobalFoundries that was announced in May. The prior deal dealt with silicon wafer supply through 2024. The new deal calls for increasing the deal to $2.1 billion worth of silicon wafers from 2022 to 2025. GlobalFoundries is the product of AMD spinning out its foundry operations in 2009.
President and CEO Lisa Su will host AMD's 2022 Product Premiere on Tuesday, January 4, 2022. Su will show off innovations in AMD's new Ryzen processors and Radeon graphics cards.
AMD key statistics
| Market Cap | $167 billion |
| Price/Earnings | 43 |
| Price/Sales | 11 |
| Price/Book | 23 |
| Enterprise Value | $164 billion |
| Operating Margin | 21% |
| Profit Margin |
27% |
| 52-week high | $164.46 |
| 52-week low | $72.50 |
| Short Interest | 6% |
| Average Wall Street Rating and Price Target | Buy, $142.50 |
Advanced Micro Devices Stock Forecast:
Thursday's 1.6% move pushed AMD shares above the 21-day moving average. While that average is still above its 9-day counterpart, other signs give the impression that the rally is ready to continue.
For one, the Moving Average Convergence Divergence (MACD) indicator appears likely to cross over in the coming sessions as it has narrowed its distance with the signal line.
Though Thursday faced resistance around $147 and $148, this has been seen before on December 7, 8, 9, 15 and 16. Still the high at $149 demonstrates that the market expects this one to aim for $150 and maybe even $160 soon enough.
AMD 1-day chart
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD rebounds from session lows, stays below 1.0600
EUR/USD recovers from the session low it set in the European session but remains below 1.0600 on Tuesday. Although the US Dollar struggles to gather strength following disappointing housing data, the risk-averse market atmosphere caps the pair's rebound.
GBP/USD remains under pressure below 1.2650 after BoE Governor Bailey testimony
GBP/USD trades in the red below 1.2650 on Tuesday, pressured by safe-haven flows. BoE Governor Bailey said a gradual approach to removing policy restraint will help them observe risks to the inflation outlook but this comment failed to boost Pound Sterling.
Gold pulls away from weekly-high, holds above $2,600
Gold retreats slightly from the daily high it touched near $2,640 but holds comfortably above $2,600. Escalating geopolitical tensions on latest developments surrounding the Russia-Ukraine conflict and the pullback seen in US yields help XAU/USD hold its ground.
Bitcoin Price Forecast: Will BTC reach $100K this week?
Bitcoin (BTC) edges higher and trades at around $91,600 at the time of writing on Tuesday while consolidating between $87,000 and $93,000 after reaching a new all-time high (ATH) of $93,265 last week.
How could Trump’s Treasury Secretary selection influence Bitcoin?
Bitcoin remained upbeat above $91,000 on Tuesday, with Trump’s cabinet appointments in focus and after MicroStrategy purchases being more tokens.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.