AMD recovers after being oversold

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Source: Dukascopy Bank SA


Semiconductor giant Advanced Micro Devices reported quarterly results after yesterday's US market close. In general, the firm has managed to beat quarterly expectations, which is causing a surge.

The news are the reason for $11.91 or 8.61% gap up of the stock price.

In general, the earnings numbers reveal a minor increase of the firm's value. On a quarter on quarter calculation basis, the net income of the company has increased by 11.00%. Total revenues are up 7.00%, but operating expenses have also increased, as an operating expense cost increase of 6.00% has been reported.

However, if one examines the firm's stock chart, it is clear why the price is surging. During the quarter that the firm experienced minor but still positive growth, the stock had dropped by 12.59% or $19.94. The firm has been beaten down on the market. The released data indicates that the market had oversold AMD.
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