Today's video looks at Advanced Micro Devices (AMD 5.78%) and Nvidia's (NVDA 8.24%) recent stock price movements and shares my thoughts from a bullish and bearish perspective. Here are some highlights from the video:
- Semiconductor stocks had a solid day on Monday, Aug. 23, 2021, after Analog Devices (ADI 4.89%) received approval from Chinese regulators to acquire Maxim Integrated Products (MXIM).
- AMD and Nvidia investors could see the approval as a bullish sign since both companies are currently in an acquisition process and will need the green flag from Chinese regulators. It is important to note that each acquisition goes through an individual approach.
- Bitcoin (BTC 403.11%) prices are also in a steady uptrend in the past few days, at one point even breaking over $50,000. Both AMD and Nvidia have seen an increase in revenue due to cryptocurrency mining, and the increase in these assets could drive more sales for crypto mining products.
Click the video below for my full thoughts and analysis.
*Stock prices used were the midday prices of Aug. 23, 2021. The video was published on Aug. 23, 2021.