AMD Q3 Earnings Analysis: Impact on AI Chips and Stock Outlook

Summary:
• Explore AMD's Q3 earnings, AI chip growth, and stock outlook. Discover key support, resistance levels, and what's next for AMD shares.

Advanced Micro Devices (AMD) recently unveiled its Q3 earnings, which shed light on its performance in the booming AI chip sector and the subsequent effect on its stock. Let’s delve into the details and assess what the future holds for AMD.

Revenue reached $6.73 billion, up 16% YoY, driven by strong AI and data center demand. EPS rose to $0.92, marking a 30% increase, exceeding analyst expectations.

AMD’s Key Support Levels:

• $142.62: A strong support level from mid-June, which has held through recent pullbacks. If the stock dips further, this level could attract buyers.
• $122.10: The lowest support level, tested back in May, indicating a major safety net in case of a deeper correction.

AMD’s Key Resistance Levels:

• $159.28: This level has acted as a ceiling for the stock’s recent upward movement. If AMD can break above this resistance, it could trigger more bullish momentum.
• $174.16: A crucial level from August highs. Breaking above this mark could set the stock up for a stronger rally, testing the $187.25 resistance.

AMD’s Outlook

AMD’s Q3 results certainly pack a punch, with AI chips leading the charge and earnings outperforming expectations. But there’s still the challenge of catching up to the big AI player, NVIDIA. That said, AMD’s ambitions are clear, and it’s gearing up for an exciting race in the AI chip world. So, keep your eyes peeled because this could be a thrilling ride for tech investors… maybe even one with a few turbo boosts!