Advanced Micro Devices stock saw a positive improvement to its Relative Strength (RS) Rating on Friday, with an increase from 66 to 81.
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IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
History shows that the best stocks typically have an RS Rating of over 80 in the early stages of their moves.
Is Advanced Micro Devices Stock A Buy?
Advanced Micro Devices stock reclaimed its 200-day moving average back in mid-June, but it's now considered extended and out of buy range. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Taking a look at revenue and profit performance, the company has posted four quarters of rising earnings growth. Revenue gains have also risen over the same time frame. The company is expected to report its next quarterly numbers on or around Aug. 5.
Advanced Micro Devices stock earns the No. 5 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom is the top-ranked stock within the group. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News
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