2 Very Big Numbers AMD Stock Investors Need to Watch on Oct. 29

Advanced Micro Devices Inc. (AMD) is one of the world's leading semiconductor companies

It reported third quarter earnings Tuesday, Oct. 26, 2022 showing a robust 29% growth in revenue year-over-year. AMD will resume trading on Oct.29 as the market digests its latest financial update. There are two big numbers AMD stock investors need to keep in mind: $1.10 and $6.90.

AMD stock closed at $1.10 on Oct. 26, 2022

The figure was down a fraction from the previous close. However, it is in line with the average analyst price target of $1.12, according to data from Yahoo Finance. Breaking above this level could be a sign that the stock is gaining strength.

AMD stock has a 52-week range of $6.90 to $1.10

The stock hit its 52-week high of $6.90 on Sept. 7, 2022. However, it has since fallen sharply due to concerns about a slowdown in the PC market. If the stock can reclaim the $6.90 level, it will be a key technical milestone.

Here is a summary of the two numbers AMD stock investors need to watch on Oct. 29, 2022:

$1.10 is the closing price of AMD stock on Oct. 26, 2022.

$6.90 is the 52-week high of AMD stock.

AMD reported third quarter earnings per share of $1.10, which beat analyst estimates of $1.09.

AMD's revenue for the third quarter was $5.6 billion, which beat analyst estimates of $5.54 billion.

AMD raised its full-year revenue guidance to $26.3 billion, up from a previous estimate of $26.1 billion.

Overall, AMD's third quarter earnings report was positive. The company beat analyst estimates on both the top and bottom lines and raised its full-year revenue guidance. As a result, AMD stock is likely to open higher on Oct. 29, 2022.