Advanced Micro Devices saw its IBD SmartSelect Composite Rating rise to 96 Friday, up from 94 the day before.
The upgrade means the stock is now outpacing 96% of all other stocks in terms of key performance metrics and technical strength.
Advanced Micro Devices is trading within a range from a 114.59 entry from an old double bottom pattern. It has just cleared key moving averages, but most are still trending down. Watch for a new pattern to form that would offer a better buy point.
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The stock has a 99 EPS Rating, which means its recent quarterly and annual earnings growth tops 99% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q4, the company posted 77% EPS growth. Revenue growth fell to 49%, down from 54% in the prior quarter.
Advanced Micro Devices holds the No. 5 rank among its peers in the Electronics-Semiconductor Fabless industry group. Alpha & Omega Semiconductor is the No. 1-ranked stock within the group.
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