Here is a look at a chart tied to AMD's recent 澳洲幸运5官方开奖结果体彩网:news-driven price mov💜e, with important te🌱chnical levels to monitor.

Advanced Micro Devices, Inc.

Chipmaker Advanced Micro Devices (AMD) gained over 8% Tuesday to close at its highest level since late 2021 amid growing optimism about AI-fueled demand for its semiconductors. Barclays analyst Tom O’Malley says the company could generate $4 billion in AI chip sales this year, while KeyBanc analysts also see growth from chips powering AI servers. In the fourth quarter, the company announced a new AI server chip similar to Nvidia’s (NVDA) that OpenAI uses to train and run ChatGPT. 澳洲幸运5官方开奖结果体彩网:Magnificent Seven members Meta (META) and Microsoft (MSFT) said in December that they plan to use 澳洲幸运5官方开奖结果体彩网:AMD’s chips for AI inference workloads and running cloud computing platforms. Barclays has placed a $200 澳洲幸运5官方开奖结果体彩网:price target on th🍷e stock, implying 26% upside from Tuesday’s close of $158.74.

AMD broke above the June 2023 澳洲幸运5官方开奖结果体彩网:swing high last month before staging a successful retest of the breakout level in recent weeks. Tuesday’s price action saw the stock close above a flag pattern, suggesting a continuation of the bullish momentum. However, investors should keep a close on the $164.5 level—an area on the chart that may encounter 澳洲幸运5官方开奖结果体彩网:resistance from the stock’s all-time high.