Advanced Micro Devices Stock Broke Out of a Bullish Flag Today

The price of Advanced Micro Devices, Inc. (NASDAQ: AMD) has broken out of a falling wedge pattern gaining roughly 9% today. With the daily price chart showing a golden cross pattern the stock is poised to reach the $270 pivot and beyond amidst growing interest.

The surge reflects recent optimism about AMD’s expanding role in the AI chip market, fueled by new partnerships, including a significant deal to supply chips to Oracle’s cloud infrastructure and collaborations with AI leaders like OpenAI.

Moreover, the investors’ confidence is also boosted by recent positive commentary by analysts, who also raised their price targets on AMD stock.

About Advanced Micro Devices, Inc.
It operates in three segments: Data Center, Client and Gaming, and Embedded. The company offers artificial intelligence (AI) accelerators, x86 microprocessors, and graphics processing units (GPUs) as standalone devices or as incorporated into accelerated processing units, chipsets, and data center and professional GPUs; and embedded processors and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing units, field programmable gate arrays (FPGA), system on modules, smart network interface cards, and adaptive SoC products.