Advanced Micro Devices (AMD) posted strong Q2 results after the market closed yesterday:
→ Earnings per share were $0.48, in line with estimates
→ Revenue hit $7.68 billion, topping forecasts of $7.41 billion
CEO Lisa Su expressed confidence in future growth, saying, “We’re well positioned to deliver significant growth in the second half.”
Still, AMD shares fell in after-hours trading, dropping below $165.
The pullback may reflect high pre-earnings expectations and an overbought stock heading into the release.
Investors may have hoped AMD would mirror Nvidia’s (NVDA) recent AI-driven surge. However, results failed to surpass those lofty expectations — likely a classic case of “buy the rumour, sell the fact.”
A bearish gap is expected at today’s open, suggesting a return to the channel range. Key technical support lies:
→ Along the channel’s midline and lower boundary,
→ Near the $150 psychological level.
This may signal a healthy correction. If optimism stabilizes, bulls could look to reignite the rally, supported by AMD’s solid fundamentals.
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