(VIANEWS) – Advanced Micro Devices Inc. closed Tuesday at a record fifth consecutive high, following reports that Nvidia Corp. might block Arm Ltd.’s acquisition.
NVIDIA and SoftBank Group Corp. (SBG) announced a final agreement under which NVIDIA would purchase Arm Limited for $40 billion from SBG and the SoftBank Vision Fund. The purchase is expected to have an immediate positive impact on NVIDIA’s non-GAAP gross margin and earnings per share.
The merger combines NVIDIA’s leading AI computing platform with Arm’s enormous ecosystem to build the top computing business for the age of artificial intelligence, speeding innovation while expanding into big, high-growth industries. SoftBank will continue to be dedicated to Arm’s long-term success through its ownership interest in NVIDIA, which is estimated to be less than 10%.
UK Government National Security Concerns
The UK government said on Monday that it will investigate the national security implications of Nvidia’s (NVDA.O) purchase of British chip manufacturer ARM Holdings, increasing doubts over the $40 billion transaction.
SoftBank is selling Arm after purchasing the semiconductor company in 2016. The Japanese company’s choice to sell the business to Nvidia has prompted questions about whether the US company would maintain its headquarters in Cambridge in the long run.
Nvidia CEO Jensen Huang has stated that he aims to preserve Arm’s name while also growing its headquarters in Cambridge and retaining its intellectual property registered in the UK.
AMD at Today’s Session Start
Shares of AMD (AMD) rose 5.02% to $118.21 at 10:22 EST on Wednesday, after four successive sessions in a row of gains. NASDAQ Composite is jumping 0.55% to $14,761.30, after two successive sessions in a row of gains. This seems, as yet, a somewhat up trend exchanging session today.
AMD’s last close was $108.63, 5.42% below its 52-week high of $114.85.
Today’s last reported volume for AMD is 51687784 which is 8.47% above its average volume of 47652945.
AMD’s sales growth is 87.1% for the current quarter and 48.7% for the next. The company’s growth estimates for the ongoing quarter and the next is 200% and 36.6%, respectively.
Year-on-year quarterly revenue growth grew by 92.9%, now sitting on 11.42B for the twelve trailing months.
AMD’s last week, last month’s, and last quarter’s current volatility was 1.85%, 0.47%, and 1.51%, respectively.
AMD’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 2.46% (last week), 1.77% (last month), and 1.51% (last quarter), respectively.
Stock Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions,
AMD’s stock is considered to be oversold (<=20).
AMD’s Stock Yearly Top and Bottom Value
AMD’s stock is valued at $118.21 at 10:22 EST, higher than its 52-week high of $114.85.
AMD’s Moving Average
AMD’s worth is way above its 50-day moving average of $89.31 and way above its 200-day moving average of $84.09.
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