Advanced Micro Devices stock saw a positive improvement to its Relative Strength (RS) Rating on Friday, rising from 89 to 93.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating tracks technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 in the early stages of their moves.
Looking For The Best Stocks To Buy And Watch? Start Here
Is Advanced Micro Devices Stock A Buy?
The IBD 50 stock is now considered extended and out of buy range after clearing an 89.04 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The chipmaker company showed -25% earnings growth in the latest quarterly report. Revenue increased 16%.
Advanced Micro Devices stock earns the No. 6 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom, Lattice Semiconductor and Monolithic Power Systems are among the top 5 highly rated stocks within the group. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
