AMD surges due to earnings

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Source: Dukascopy Bank SA


The quarterly earnings publication of AMD has caused a 8.13% surge of the company's stock price.

Although, the Q3 results have not been that spectacular, compared to expectations. The company beat the earnings per share forecast by 3.02% and the total revenues by 1.77%.

The surge could be attributed to the fact that prior to the earnings report the stock had sold off from as high as $110.00 down to as low as $93.00. Namely, the equity had been overvalued and the earnings confirmed that it was oversold.
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