Advanced Micro Devices AMD Stock Upgrade - 8/24/09

August 24, 2009 - Shares of Advanced Micro Devices Inc. (AMD) are set to open high this morning following a key upgrade out of Citigroup.

Price Target - $5.50

Citigroup upgrades AMD stock to BUY from Hold. Citigroup upgrades Advanced Micro citing valuation and expectations for the company's competitive position and gross margins to improve.

The next major resistance level I see on the charts is the July 2009 high of $4.25.

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