AMD stock faces profit-taking risk as AI momentum builds
AMD is pushing its AI roadmap forward with new Instinct accelerators, stronger analyst support and deeper quantum partnerships. After testing $594, however, the stock looks vulnerable to profit-taking toward the 50-day SMA near $553.
571.14
594.00
AMD unveiled an update to its Instinct MI400 lineup, including the new MI450X accelerator with 288 GB of HBM4 memory. The company also released benchmark results for the MI455X, which, according to AMD’s own testing, delivered up to 30% higher performance in a specific DeepSeek-R1 inference workload compared with a published Nvidia result.
Reuters also reported that AMD is expanding its partnership with PsiQuantum to develop infrastructure for quantum computing. Against the backdrop of uncertainty surrounding Nvidia, William Blair upgraded AMD from Market Perform to Outperform, while Bank of America raised its price target from $650 to $700 and maintained a Buy rating.
AMD stock risks a pullback toward $553 after testing $594
AMD stock fully completed the scenario outlined previously. The price reached the $561 target and went on to test $594.
In premarket trading on November 13, the stock failed to extend the rally and slipped toward $573. That leaves a higher probability of short-term profit-taking during today’s session.
The initial downside target is the 50-day SMA near $553, with further weakness potentially extending toward $540.
A sustained move into the key $584.50–600 liquidity zone would invalidate this setup. In that case, the advance could resume toward $622.
AMD's growth prospects face a test of investor confidence
AMD has additional room to expand as demand for AI accelerators grows, its server processor business develops and uncertainty around Nvidia remains elevated.
The strength of the recent rally, however, also increases the risk of near-term profit-taking, particularly while volatility across the technology sector remains high. Over the medium term, the key question will be whether AMD can convert its technological progress and new partnerships into stronger shipments and revenue growth.
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