Advanced Micro Devices ,amd) And Chipotle Mexican Grill ,cmg) make today’s IBD Screen of the Day a column that focuses on the top ideas in IBD Stock Screener,
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Today’s stocks to watch come from the “Rising Profit Estimates” screen, which finds issues that attract higher price targets and analyst upgrades. Apart from AMD and CMG, the latest screens have also been flagged fox factory ,foxf) And insulating ,pod,
AMD stock close to buy point
AMD stock is forming a flat base with an 89.04 buy point, according to IBD MarketSmith chart analysis. Shares rose on Wednesday afternoon. Bullish, the relative strength line is at its highest level since August. However, a correction in the stock market means that investors should avoid buying shares until the market improves.
Advanced Micro reported a 25% year-over-year earnings decline last quarter to 69 cents per share. In the prior three periods, it posted 117% and 67% earnings growth, followed by an 8% decline. See Return on Earnings Growth for the current quarter.
Revenue growth remains positive for the chip maker. Sales last quarter rose 16% to $5.59 billion, down from 71%, 70%, and 29% in the previous three quarters.
For 2023, AMD earnings are expected to fall 11% before jumping 39% in 2024.
Amidst solid fundamentals and a sharp rise in prices in recent months, amd stock Claims a strong 95 out of 99 IBD composite rating according to ibd stock checkup,
Chipotle Back Above Key Level
This week, Chipotle stock moved above its key 50-day moving average. Shares are climbing to the right of a new base formation, although it is too early to determine the right buy point. Shares have to move up before an entry can emerge.
CMG stock went down 0.8% on Wednesday afternoon.
The burrito chain missed estimates for fourth-quarter earnings, revenue and same-store sales on February 7. Despite the miss, earnings and sales rose 49% and 11%, respectively, versus the year-ago period.
Chipotle’s earnings are expected to grow 28% in 2023 and 22% in 2024.
Fox Factory, Insulated Eye By Points
Similar to AMD stock, Fox Factory is tracing a flat base, with a 127.64 buy point, as shares fight to stay above their 50-day line during Wednesday’s 2.8% afternoon decline.
With 20 locations across four continents, the Fox factory manufactures high-performance suspension products used on bicycles, on-road vehicles, all-terrain vehicles (ATVs), snowmobiles, commercial trucks and specialty vehicles.
Insulate jumped on the news this week that it would be joining the S&P 500. SVB Financial ,SIVB, Shares are near 320.10 buy point of consolidation and 4% away from entry.
The company sells insulin pumps for genetic type 1 diabetes and progressive type 2 conditions. Diabetics require extra insulin to keep their blood sugar under control.
Insulate’s devices are body-worn insulin delivery systems. The company recently launched a new device for Type 1 patients age 2 and up, called the OmniPod 5.
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