A little timeline before we get to the entree.
Zenolytics originally suggested investors take a look at AMD in mid-May in a note titled Zenolytics Goes Bullish On AMD, citing the upcoming Computex Conference as an immediate catalyst to the stock price. AMD price at the time: $27.50
The next note titled AMD New Product Announcement Sets Stage For $34 Stock Price came out shortly after the Computex Conference delivered the expected melodious message to investors with analysts tripping over themselves to deliver backup vocals to the CEO who announced a number of new product offerings that lit a fire under the stock price. AMD price at the time: $29
This past Monday AMD hit a high of $34.30. A high that remains in place to this day, hitting our $34 price target almost exactly causing this Tweet to be delivered in a timely manner.
Since Monday, June 10th AMD has declined 11.50% as the semiconductor sector has unraveled mostly due to Broadcom's woes, which Zenolytics believes are completely isolated in nature.
The decline in AMD, completely based on sympathetic algorithms that only observe "semiconductors bad" and decide to blanket the entire sector with sells, should be taken advantage of in the case of AMD and likely a handful of other names.
There is a turning point coming for AMD that will continue to deliver separation between the company and the rest of the semiconductor sector.
AMD is not Broadcom.
AMD is not Intel.
AMD is a company that has evolved into a manufacturer with top flight products aimed at high growth industries such as gaming and mobile all coming in at attractive price points. Incumbents like Intel are beginning to fall behind in the product race, allowing AMD a substantial window to create earnings momentum over the next few quarters.
While it is likely still early to reinitiate a position in AMD, the time is quickly approaching.
Eyes wide open.
Zenolytics now offers Turning Points and ETF Pro premium service Click here for details.
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