JP Morgan Sees AMD Bounce Because Of Crypto Conference

Economy May 16, 2018 11:56AM ET

Investing.com - One Wall Street firm is bullish on AMD because the chipmaker's stock typically rises on the heels of a major cryptocurrency conference in New York City each spring.

In a note to clients, JP Morgan says AMD, whose graphic cards are used by crypto miners, has "staged significant rallies following the blockchain technology summit, Consensus."

Now underway, the three-day Consensus conference attracts the top names in cryptocurrencies and blockchain technology along with thousands of enthusiasts.

JP Morgan says AMD shares have gained an average of 15% in the month following the conference in the past three years.

This year Consensus is even bigger than usual because it is part of the first "Blockchain Week NYC", a weeklong event promoted by New York City's development agency

JP Morgan Sees AMD Bounce Because Of Crypto Conference

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