Today’s Research Reports on Trending Tickers: Advanced Micro Devices, Inc. and Micron Technology, Inc.
U.S. markets were lifted higher Wednesday as stronger-than-expected economic data outweighed the recent rising geopolitical tensions. The Dow Jones Industrial Average gained 0.12 percent to close at 21,892.43, while the S&P 500 Index rose 0.46 percent to close at 2,457.59, extending its streak to four consecutive daily gains. On Wednesday, the Commerce Department reported the U.S. economy grew by 3.0 percent in the second quarter, above the previous estimate of 2.7 percent. Additionally, ADP reported the private sector added 237,000 jobs in August, which was above expectations of 185,000.
“The economy is doing well, we continue to show growth, people are working and spending, and this should be a positive for markets,” said Wayne Kaufman, chief market analyst at Phoenix Financial Services. “However, this is the slowest time of the year, volumes are very low, and there could be some additional volatility stemming from Harvey and North Korea that could prevent short-term gains.”
RDI Initiates Coverage on:
Advanced Micro Devices, Inc.
Micron Technology, Inc.
Advanced Micro Devices Inc.’s stock moved 4.28% higher Wednesday, to close the day at $12.67. The stock recorded a trading volume of 43,932,966 shares, which was below its three months average volume of 78,960,304 shares. In the last year Advanced Micro Devices Inc.’s shares have traded in a range of 5.66 – 15.65. The share price has gained 123.85% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. Moreover, the stock’s 50-day moving average of $13.28 is greater than its 200-day moving average of $12.93. Shares of Advanced Micro Devices have gained approximately 11.73 percent year-to-date.
Access RDI’s Advanced Micro Devices, Inc. Research Report at:
On Wednesday, shares in Micron Technology Inc. recorded a trading volume of 17,467,885 shares, which was below the three months average volume of 29,184,000 shares. The stock ended the day 0.41% higher at 31.61. The share price has gained 95.85% from its 52 week low with a 52 week trading range of 16.14 – 32.96.The company’s shares are currently trading above their 200-day moving average. Moreover, the stock’s 50-day moving average of $29.99 is greater than its 200-day moving average of $28.40. Shares of the company are trading at a Price to Earnings ratio of 13.88. Shares of Micron Technology have gained approximately 44.21 percent year-to-date.
Access RDI’s Micron Technology, Inc. Research Report at:
Our Actionable Research on Advanced Micro Devices, Inc. (NASDAQ:AMD) and Micron Technology, Inc. (NASDAQ:MU) can be downloaded free of charge at Research Driven Investing.
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