Looking at fundamentals, AMD has steadily taken share from its competitors, especially INTC, while improving its margins. It continues to improve its balance sheet. INTC continues failing at getting anywhere close to producing the 5nm chips that TSM offers ADM.
In the long term, AMD's price will resume going up. I have no idea when that will happen - it could be after the next earnings report or it may be after the Fed regains control over inflation, and Russia is forced to behave as a civilized nation rather than a genocidal terrorist. I have no idea how low its price will go, but I intend to stay in and enjoy the ride once it starts moving up again.
FWIW,
Ian
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