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Here's Why Advanced Micro Devices (AMD) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Advanced Micro Devices (AMD)

Advanced Micro Devices has strengthened its position in the semiconductor market on the back of its evolution as an enterprise-focus company from a pure-bred consumer-PC chip provider. AMD has emerged as a strong challenger to NVIDIA’s dominance in the graphic processing unit or GPU market based on its Radeon technology.

AMD sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 15.5% and up 5.7% over the past one-week and four-week period, respectively, and Advanced Micro Devices has gained 37.7% in the last one-year period as well. Additionally, an average of 119,101,632 shares were traded over the last 20 trading sessions.

Momentum investors also pay close attention to a company's earnings. For AMD, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.33 to $4.34 per share for 2022. AMD boasts an average earnings surprise of 18.5%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding AMD to their portfolios.


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Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report
 
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Zacks Investment Research