AMD Stock Forecast 2023: AMD Is Up 17% This Year

AMD Stock Forecast 2023: AMD Is Up 17% This Year

AMD Stock Forecast 2023: AMD is technically bearish. The 12-month AMD Stock Prediction is now increased to $91.


AMD Stock’s Latest Price

AMD performance in the last 12 Months

  • Last 1 Month
    • AMD: +15.6%, NASDAQ: +10.9%
  • Last 6 Months
    • AMD: -22.9%, NASDAQ: -7.3%
  • Last 12 Months
    • AMD: -34.2%, NASDAQ: -18.9%

AMD Stock Forecast: Analysts

Average AMD Stock Forecast for the next 12 Months$91
UBS$95
Baird$100
Goldman Sachs$74
Stifel Nicolaus$91
Mizuho$95

AMD Stock Price Prediction for the next 5 years (Aggregated)

AMD Stock Price Prediction 2023 is $134

AMD Stock Price Prediction 2024 is $181

AMD Stock Price Prediction 2025 is $213

AMD Stock Price Prediction 2026 is $258

AMD Stock Price Prediction 2027 is $293

AMD Stock Forecast 2023: Technical Analysis

AMD stock has been trading lower since November 2021. AMD stock hit a high of $165 in November 2021 but the price started to fall since then and by mid of October 2022 AMD was below $60. Since then AMD has recovered marginally. At the time of writing AMD is above $60.

AMD is trading over 50% lower than its 52-week high of $141.25 while the 52-week low of AMD stock is 54.45.

Performance on the last Trading Day

  • Open Price: $72.45
  • Close Price: $75.15
  • Gain/Loss: +3.73%
  • Overall Market Cap: $121.18 B

Understand the AMD stock WRT Technical Analysis

image 23

On the above 4-hour timeframe chart, AMD is bullish. On the above chart, the net AMD price is now above the 50-day and the 200-day Moving averages. Added to it, the 50-day MA (red) is moving above the 200-day MA. The 50-day MA formed a Golden Cross. A Golden cross signals a bull market.

AMD is facing a resistance marginally below $80. However, the price momentum is on the bullish axis. The first level of support for AMD is $72. If AMD fails to hold on to this support, it is likely to retest the 50-day MA which is around $69.

The RSI has reversed and it is moving towards the over brought zone. The 14-day MA is above the RSI. The RSI is retesting the 14-day MA ad it is likely to break above it and enter the over brought territory once again.

Overall AMD is bullish for the next trading day.

image 22

The Stochastic RSI after being within the over brought zone has fallen below the 14-SMA. However, after the recent surge, it is once again on the verge of going above the 14-day SMA. It is however a sell signal.

The MACD series proper is within the bullish zone but has fallen below the 9-day EMA. The trading volume for AMD is down and the stock price is likely to fall on the next trading day. The signal is a sell.

Indicators:

  • Moving Average: Hold
  • RSI: Bullish
  • Stochastic RSI: Sell
  • MACD: Sell

Overall: Sell

AMD Stock Forecast: Q3 Results

  • The revenue of the company decreased from $6.55B (Q2) to $5.57B (Q3). This happened with a YoY of 29.03% (Q3) as compared to 70.13% YoY (Q2).
  • EPS for Q3 stands at 0.04 as compared to 0.28 (Q2), with a YOY growth rate of – 94.62% (Q3) as compared to -52.68% (Q2).
  • Cashflow from operating activities is $965M (Q3,2022) as compared to $849M (Q3,2021), which is an increase of 13.66% YoY.
  • Net Income for Q3 is $66M with a YoY of -92.85%.
  • Segment-wise revenue data are as follows: Data Center $1609, Client $1022, Gaming $1631, Embedded $1303

AMD projected that the revenue in Q4 would range between $5.2 billion to $5.8 billion, which is 14% higher than the same quarter, the previous year, and its full-year sales would be between $23.2 billion to $23.8 billion.

AMD said that its results were affected by its sales in the PC sector where they fell by 40% and its reduction in inventories in the PC supply chain.

AMD Stock Forecast Today

Overall OutlookNeutral
1. Market's WisdomNeutral
1a. Market DataPartially Positive
1b. Technical RecommendationSell
2. Crowd's WisdomPartially Positive
2a. Social Media BuzzSteady
2b. Social Media SentimentNeutral

AMD Stock Forecast: AMD vs Nvidia- A tough call

  • AMD and Nvidia are both been outstanding performers for the year. While Nvidia has given more than 100 percent return, AMD has only given 80 percent return. Both stocks are trading at almost all-time highs, touching new highs day after day. So which one among the two is better for investors?
  • AMD is growing at a faster pace than Nvidia. AMD expects 65 percent revenue growth in 2021, up from its prior guidance of 60 percent, whereas analysts expect Nvidia to end the fiscal year with 54 percent growth, lower than that of AMD.
  • AMD has diverse catalysts. While Nvidia gets most of its revenue by selling graphic cards, AMD on the other hand gives investors a chance to take advantage of more opportunities as it sells CPUs for computers aside from selling graphic cards. AMD’s horizon is more and it is expected to increase in near future with the launch of new products.
  • Valuation is tilted in favor of AMD because AMD is trading at 40 times trailing earnings whereas Nvidia is trading at 95 times trailing earnings. Also, AMD’s price-to-sales ratio is 10.7 which is much lower than Nvidia’s multiple of 30.7.

Choosing AMD over Nvidia is everybody’s guess right now as AMD is expected to outpace Nvidia in near future, has a wide range of products, and is available at a cheaper price.

AMD Stock Forecast: Background (AMD)

AMD is an American multinational semiconductor company headquartered in California and focuses on computer processors and related technology. Advanced Micro Devices was founded by Jerry Sanders along with seven of his colleagues on May 1, 1969. The company’s product includes x86 microprocessors, accelerated processing units, discrete graphics processing units, chipsets for personal computers, and gaming datacentres.

Partnership with Meta- A giant leap for future

  • Advanced Micro Devices showed ultra-momentum on Monday and shares held to the all-day gains after analysts were upbeat about the company’s new data center deal with Facebook
  • During an online event, AMD announced that Meta (Facebook) is adopting its EPYC central processing units or CPUs. AMD already supplies processors to cloud computing providers such as Amazon, Microsoft, and Alphabet
  • Facebook’s win was a surprise because it earlier used Intel processors. AMD also launched Instinct MI200 series accelerators optimized for high-performance computing and artificial intelligence workload.
  • Meta said in its third-quarter press release that it plans to invest as much as $10 billion in its augmented reality and virtual reality products and services. Serving as their prime technology supplier is very lucrative for AMD and it speaks volumes of its preparedness for the next 10 years to take on its competitors Intel and Nvidia.

partnership with Energy Sciences network:

AMD partnered with the Energy Sciences Network (a high-speed computer network working for the U.S. Department of Energy). They have been working with each other since 2018 for ESnet6 (next-generation network for the U.S. DoE). AMD would help the ESnet6 network to bring into the service by using its adaptive networking technology.

AMD Stock Forecast: Final Take

AMD has constantly focused on research and delivering on its promises. It has been in the market since 1969, partnered with Intel, and is all set to acquire Xilinx. The company is in the right sphere when looked at from the financials and fundamental prism. Also, the Facebook announcement has only helped to increase the morale of investors.

Also, the company has been trading above 10 days, 20 days, and 50 days moving averages simple and exponential and still is trading at 40x price to earnings is like cheery on the cake. AMD has not placed a wrong foot in the past six years since its President Lisu Su took over its reign and is expected to outperform its competitors in near future.

It will be interesting to watch how its new partnership with Meta pans out and that will decide whether AMD will keep on touching new highs or will it see a major correction.  

Vineet Agarwal

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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