INTC, NVDA and AMD Forecasts – Chips Looking to Rally

INTC Technical Analysis

The market for Intel is relatively flat in pre-market trading, but we are in the midst of consolidating after shooting straight up in the air. That, of course, is a market that if we do fall from here, then there will be plenty of buyers out there willing to take advantage of cheap stock.

All things being equal, this is a market that eventually goes much higher. Intel is probably going to continue to look strong due to AI demand and, of course, the recent influx of cash from, among others, the United States government. I do believe Intel remains very bullish.

NVDA Technical Analysis

Nvidia looks like it’s going to gap a little bit higher to kick off the trading session and that’s not a huge surprise. We broke out of the previous consolidation area and now it looks like we’re going to go above the $200 level. At this point, you could see the market go looking to the $210 level. Short-term pullbacks I think open up the possibility of an attempt to test the $195 level, an area that previously had been a significant barrier, now is potential support. Again, this is an AI play, obviously, and it looks like people are starting to focus on AI data centers yet again.

AMD Technical Analysis

AMD is going to absolutely launch at the open, roughly 10% gap to the upside as analysts have raised its target, and of course, the AI boom continues to help.

The deal with Meta and OpenAI really has AMD taking off at this point. Short-term pullbacks will more likely than not invite buying. The $266.50 level is support. I don’t think we get anywhere near there. We can now make an argument for the $300 level being important as well, so that might be your new floor. Either way, this is going to be a very strong stock.

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