AMD Shares Drop Amid Tepid AI Revenue Forecast

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AMD Shares Drop Amid Tepid AI Revenue Forecast. 💻 AMD's stock plummeted 8% premarket as its AI revenue guidance and 2025 chip sales goal underwhelmed investors, sparking concern over limited supply despite surging demand. With a potential $20 billion loss in market value, AMD faces heightened scrutiny compared to AI chip giant Nvidia, which analysts view as less impacted by supply constraints. Reuters reports.

💥 XValued: Elon Musk's xAI in talks to raise funding valuing it at $40 billion. Yahoo Finance reports.

📉 FordFall: Ford shares drop as supply snags and costs hurt profit forecast. Reuters reports.

🦠 E-Crisis: McDonald’s reverses U.S. same-store sales declines in the third quarter, but E. coli fallout looms. CNBC reports.

🔌 ChipGPT: OpenAI builds first chip with Broadcom and TSMC, scales back foundry ambition. Reuters reports.

✈️ PlanePrice: Boeing overcharged Air Force nearly 8,000% for soap dispensers, watchdog alleges. Yahoo Finance reports.

💉 VaxValue: Pfizer tops earnings estimates, hikes full-year guidance as Covid products help sales. CNBC reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $STBX: Starbox Group Holdings
Total gain: 77.7%

2. $HAO:Haoxi Health Technology
Total gain: 52.66%

3. $STI: Solidion Technology
Total gain: 38.98%

4. $NRDS: Nerdwallet
Total gain: 32.06%

5. $PLRZ: Polyrizon
Total gain: 25.8%

* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum

Trading Intel: A Real-World Example

Let’s look at Intel as an example. Suppose Intel has a gap in its price action, where it has recently entered and begun to fill. Statistically, gaps are likely to fill around 70% of the time. If Intel were to pull back into a rotation zone near the gap level and hold, that would be a signal for me to go long, with a target set at the top of the gap.

By aligning price action analysis with patterns like rotation zones and double bottoms, I can make more informed trading decisions. And by monitoring broader economic indicators, like the 10-year yield, I gain insights into market sentiment that can enhance the accuracy of my trades.

The closing price of the top three market percent gainers trading near or above $3 on October 29.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $MOVE: Movano
Total gain: +1,518.98%
The stock appeared to be moving on no notable news.

2. $OSOL: Osprey Solana Trust
Total gain: +51.82%
The stock appeared to be moving on no notable news.

3. $WGS: GeneDx Holdings
Total gain: +49.36%
The company announced its financial results for the third quarter of 2024, reporting a 77% growth in exome and genome revenues and achieving profitability. Advances in genomics are transforming the standard of care by establishing new industry benchmarks for clinical utility, economic efficiency, and reducing diagnostic timelines for thousands of families. Revenue from continuing operations reached $76.6 million, reflecting a 52% increase year-over-year and an 11% rise sequentially. Benzinga reports.

Time (ET) / Report / Period

8:15 am - ADP employment - October
8:30 am - GDP - Q3
10:00 am - Pending home sales - September

“Investment is most intelligent when it is most businesslike.”

― Benjamin Graham

Sourced in:
“The Intelligent Investor: A Book of Practical Counsel. Revised Edition”, by
Benjamin Graham, published in 1973