"The tech giant is still riding the AI story, and a recent Barclays upgrade to a buy rating, thanks to the likelihood of more AI spending. "We are OW as the company has long-term sustainable growth led by a large lead in GPUs for AI in DC, with further Edge opportunities (autos, robots, etc.) and a competitive moat around a large portion of the market," said the firm, as quoted by CNBC."
"After gaining $12.37 on Friday, Advanced Micro Devices ( NASDAQ: AMD) is up another $4 in premarket. Technically, after finding strong support dating back to late November, AMD is just starting to pivot higher. From its last traded price of $213.43, we'd like to see it challenge its 50-day moving average at around $239.74. AMD is also just starting to pivot from oversold RSI, MACD, and Williams' %R."
Nvidia rose after a $6.85 Friday gain and gained another $3.25 in premarket following a Barclays upgrade citing increased AI spending and GPU leadership. NVDA found triple-bottom support since September and is testing its 50-day moving average, with a potential retest of $200 on a breakout. AMD climbed after a $12.37 Friday gain and $4 premarket, pivoting from late-November support and oversold indicators while targeting its 50-day near $239.74, aided by CEO Lisa Su’s China meetings. Micron jumped after earnings and guidance, trading higher and considered overbought while analysts still argue for additional upside.
Read at 24/7 Wall St.
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