The stock, at around $4, is up 6% on the year to date, but trailing the tech sector's 11% gain. When you consider the 14% gain posted by chip sector, AMD seems like a laggard, right? But that's not why we're here.
On July 18, I stepped out on a limb and recommended AMD as a solid buy. This was after the company's lower-than-expected third-quarter guidance spooked investors into selling their shares. The stock opened the following trading day at $3.72, down 18.6%. It was a gross overreaction.
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