AMD Bullish Calendar Call Spread with 291% Upside
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Advanced Micro Devices designs a variety of digital semiconductors for markets such as PCs, gaming consoles, data centers, industrial, and automotive applications, among others. AMD's traditional strength was in central processing units, CPUs, and graphics processing units, or GPUs, used in PCs and data centers. Additionally, the firm supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox. In 2022, the firm acquired field-programmable gate array, or FPGA, leader Xilinx to diversify its business and augment its opportunities in key end markets such as the data center and automotive.
Advanced Micro Devices trades on the NASDAQ stock market under the symbol AMD.
As of May 6, 2024, AMD stock price climbed to $155.78 with 40,614,316 million shares trading.
AMD has a beta of 1.92, meaning it tends to be more sensitive to market movements. AMD has a correlation of 0.24 to the broad based SPY ETF.
AMD has a market cap of $251.76 billion. This is considered a Mega Cap stock.
Last quarter Advanced Micro Devices reported $5 billion in Revenue and $.62 earnings per share. This beat revenue expectation by $373 million and exceeded earnings estimates by $.05.
In the last 3 years, AMD stock traded as high as $227.30 and as low as $54.57.
The top ETF exchange traded funds that AMD belongs to (by Net Assets): VTI, VOO, QQQ, SPY, VUG.
AMD has outperformed the market in the last year with a price return of +90.9% while the SPY ETF gained +28.3%. However, in the short term, AMD had mixed performance relative to the market. It has underperformed in the last 3 months, returning -12.3% vs +4.8% return in SPY. But in the last 2 weeks, AMD shares have fared better than the market returning +6.2% compared to SPY +4.3%.
AMD support price is $145.94 and resistance is $155.26 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AMD stock will trade within this expected range on the day.