|

AMD and Micron Get New Price Targets as Taiwan Chip Exports Hit Record $30.8B

Taiwan chip exports climbed to a report $30.8 billion within the newest month-to-month print, up 60% from final yr. Stock costs for each Advanced Micro Devices (AMD) and Micron Technology (MU) broke out of lengthy consolidations this month.

This is essential proof that AI demand stays underpriced, in response to Capriole Investments founder Charles Edwards.

Taiwan Chip Exports Set a Record on AI Demand

Taiwan’s Ministry of Finance reported $30.797 billion in built-in circuit exports for August. This is the quickest year-over-year progress since 2020.

Chips accounted for 37.4% of Taiwan’s whole exports in the course of the month. That share stood at 34.9% in July, so focus remains to be climbing.

Regional information corroborates the pattern. South Korean chip exports rose 259% in the course of the first 20 days of September. TSMC reported August income progress of 53.3%, whereas Taiwanese export orders climbed 71.4%.

Skeptics argue that costs already mirror a lot of this demand. Similar bubble warnings have adopted the reminiscence rally all year long.

AMD Price Prediction: Can It Reach $691?

  • AMD has damaged above a key resistance stage and lately hit a report high of $624.84. If the rally continues, the subsequent main goal is round $691, roughly 13% above the present worth.
  • A stronger rally may push AMD towards $827. However, the inventory already seems comparatively overbought, with its RSI above 70. That means a short-term pullback is feasible even when the broader pattern stays optimistic.
  • The principal assist to observe is round $585. If AMD falls beneath that stage, the breakout would look weaker. The subsequent main assist areas sit close to $550 and $435.
AMD day by day chart. Source: TradingView

Micron Price Prediction: $1,032 Is the Key Level

  • Micron is holding above an vital assist stage at $1,032. Buyers have already defended this space twice this week. Staying above it might hold the latest breakout intact.
  • The subsequent main upside goal is Micron’s report high of $1,255. The inventory remains to be about 16% beneath that stage, whereas its RSI close to 60 suggests it has extra room to rise than AMD earlier than trying overheated.
  • A drop beneath $1,032 would weaken the outlook. The subsequent assist ranges can be round $895 and $783. Micron’s September 30 earnings may very well be the subsequent main set off, with choices markets anticipating a transfer of roughly 10%.
MU day by day chart. Source: TradingView

The publish AMD and Micron Get New Price Targets as Taiwan Chip Exports Hit Record $30.8B appeared first on BeInCrypto.

Similar Posts