AMD Stock Sees Shift After Winning Streak

AMD's Recent Stock Movement

Advanced Micro Devices (AMD) shares recently snapped a six-session winning streak. This shift in momentum comes after a period where the stock had been on a tear since late last year. Investors are closely watching the chipmaker's performance following this change in its short-term trend.

Eye on Earnings and AI

Looking ahead, an earnings preview indicates that AMD's Q2 report will be a key focus. The company's AI momentum is expected to be a significant point of interest for investors. Its Q1 earnings report was previously described as a mixed bag, setting the stage for the upcoming results and how they might influence the stock's direction.

Notable Investor Bets on AI

Despite the recent stock trend, prominent investor Cathie Wood's ARK Invest has shown continued confidence in AMD. ARK Invest doubled down on AMD's AI efforts, making a $1.5 million bet on the company. This move highlights the perceived potential in AMD's artificial intelligence initiatives, even as the stock experiences daily fluctuations.