On Thursday, Advanced Micro Devices stock got a positive adjustment to its Relative Strength (RS) Rating, from 79 to 85.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Decades of market research reveals that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Is Advanced Micro Devices Stock A Buy?
After hitting a 52-week high of 227.30 on Mar. 8, Advanced Micro Devices stock has pulled back into a consolidation and trading tightly along its 50-day moving average. It's not in a proper buying range. Look for the chip stock to offer a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The chipmaker showed 3% EPS growth last quarter, while sales growth came in at 2%.
Advanced Micro Devices stock holds the No. 8 rank among its peers in the Electronics-Semiconductor Fabless industry group. Arm Holdings ADR, NVIDIA and Broadcom are among the top 5 highly rated stocks within the group. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
