richspin
Long

Long AMD post earnings crash

NASDAQ:AMD   Advanced Micro Devices Inc
Despite a seemingly impressive Q3, AMD             stock dropped 26% in one week's time. AMD             reported revenue of $1.61 B ($1.51 B expected) and non-GAAP EPS             of $.12 ($.10 expected). However, management guided that Q4 revenue would fall by 15% (+ or - 3%) and gross margins (35%) would remain flat. A change in market sentiment and weak guidance led to a 26% decline. All things considered, 2017 revenue increased by 25% YoY while the stock is up nearly 5% since 2017. AMD             shares rebounded on news of AMD-Intel partnership which will allow AMD             to compete with Nvidia             in the (shrinking) laptop chip market via GPU's. This market sentiment shift along with oversold technical indicators ( Stochastic RSI & trend line support) make AMD             an easy buy. Strong fundamentals, oversold technicals, and a positive news story suggest AMD             moving higher to the top of its range.

Seeking to add more on weakness with profit target near $14. Stop loss would be placed near prior swing low of $10.70
If I may ask what is your position on this as of now?
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