Advanced Micro Devices ($AMD) rose on April 29, 2026. Here's the breakdown of what drove the move and what traders are watching next.
What Happened
+2.38% close; analyst price target hike ahead of earnings; RSI at 74.93 (overbought)
The Bull Case
Analyst upgrades; strong momentum into earnings; AI/data center tailwinds; relative strength vs. NVDA
The Bear Case
RSI overbought at 74.93; OpenAI concerns rippling across AI stocks; high valuation (P/E 126); earnings execution risk
Price Target & What to Watch
$302.83 analyst target