Advanced Micro Devices Inc ($AMD) is expected to post a nearly 19% fall in second quarter revenue today, with investors looking for more cues regarding the rebound in PC market crucial for the chipmaker.
According to data from IT research firm Gartner, worldwide PC shipments has started to show initial signs of stabilization during the second quarter after seven consecutive quarters of year-over-year decline.
$AMD is currently trading above its 200MA and it has gained over 76% this year, The latest trend of artificial intelligence is also expected to give a boost to AMD against rivals like $NVDA, $MSFT and $GOOGL in the coming years.
Yesterday’s monthly close continued the pullback narrative in play, with the bearish close of July after June could not close above the highs of Q2 2022. The next port of call for liquidity could be the $90-$80 area.
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