AMD Price Tumbles Despite Record Earnings: Can It Rebound to $501?

Advanced Micro Devices (AMD) stock has been on a wild ride after its latest earnings report. Despite posting record Q2 revenue of $11.54 billion and data center segment growth of 107% year-over-year, the stock price plummeted nearly 9% in after-hours trading.

The tokenized AMD stock is currently trading at $469.95 on Binance, down 2.07% from yesterday's session high. This has led to a death cross configuration on the EMA stack, with the 12-day EMA ($488.33) sitting above the 26-day EMA ($493.08).

However, traders following AMD on Blockchain.news will recognize this setup as oversold near major support, with a catalyst-rich backdrop that the market hasn't fully digested.

The immediate support level is $458.77, with the last structural floor at $447.60 below that. The bull case suggests that if AMD holds this support zone on any retest in the next 24-48 hours, the setup is for a long entry with a target band of $485-$501.