TradingKey – AMD closes September 17 at $545.09, up 6.36% from its September 16th close of $512.50. This move confirms a breakout from $524.08, and comes with new resistance around $547.70. AMD’s move higher is well deserved given its recent strategic wins with some of the largest cloud clients. Additionally, recent wins in the data center have been backed with production ramp of AMD’s Helios rack-scale products. Lastly, recent commitments from cloud clients have been multi-year in nature.
Data Center Has Become AMD’s Main Growth Engine
From an overall financial perspective, Q2 was another strong quarter for AMD. Revenues increased 50% year over year to $11.54 billion, Non-GAAP gross margin improved to 56%, and Operating Income more…
