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Advanced Micro Devices Stock Sees RS Rating Jump To 83

May 8, 2023

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When considering what names to put on your watch list, focus on stocks with an 80 or higher RS Rating. Advanced Micro Devices (AMD) stock just met that criteria with a new score of 83.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This proprietary rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock’s price performance over the trailing 52 weeks matches up against the rest of the market.

Decades of market research shows that the best-performing stocks often have an RS Rating of at least 80 as they launch their biggest climbs.

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Is Advanced Micro Devices Stock A Buy?

Advanced Micro Devices stock is working on a consolidation with a 102.53 entry. See if it can clear the breakout price in volume at least 40% above average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

The chipmaker posted negative growth for both sales and earnings last quarter. The stock fell 9% on Q1 earnings results but has rebounded nicely since then.

Advanced Micro Devices stock earns the No. 7 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom (AVGO) and Rambus (RMBS) are also among the group’s highest-rated stocks. For more industry news, check out “Chip Stocks To Watch And Semiconductor Industry News.”