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00:02Advanced Micro Devices shares rose more than 3% in Tuesday pre-market trading as investors
00:07rotated back into large-cap technology and artificial intelligence stocks ahead of the
00:11chipmaker's second quarter earnings report, according to Benzinga.
00:15The company is scheduled to report results after the market closes, with Wall Street
00:18expecting earnings of $1.55 per share on $11.28 billion in revenue, up from $0.48 per share
00:25and $7.68 billion a year earlier.
00:28AMD holds a consensus buy rating with an average price target of $581.86 after Susquehanna,
00:35Mizuho and Wedbush recently raised their forecasts to between $500 and $625.
00:40AMD has gained more than 174% over the past year and continues to trade above its 100-day
00:46and 200-day moving averages, although it remains below its 20-day and 50-day averages as the
00:52stock consolidates.
00:53Shares were up 3.21% at $500.20 during pre-market trading on Tuesday, according to Benzinga Pro
01:00Data.
01:00For all things money, visit Benzinga.com.
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