Advanced Micro Devices Inc. (NYSE: AMD) is seeing the price of AMD stock up yet again on new news that new servers launching on its technology at a lower price are now available. If you have been reading 24/7 Wall St. for long, this is at least the second time in recent trading that the new technology has driven the stock higher.
We recently featured AMD in our stocks that analysts expect to double and the issue was the same driving force back then, but in a research report from Wells Fargo. The Open 3.0 servers are supposed to reduce virtual server and desktop costs by 57% when compared to comparable virtual infrastructure.
The question is whether this big move on Monday is really just more and more short covering. The short interest remains high at 96 million shares as of the end of April, but that is…
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