Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Analog Devices Inc (NASDAQ: ADI) will be posting quarterly results on August 23, 2023.&nbsp;</a> </li> 
 <li> <span>2</span> <a>ADI stock price is in an uptrend given the yearly time frame and it attained an all-time high trading price of $200 recently.&nbsp;</a> </li> 
</ul> 
<p>The American semiconductor company, Analog Devices Inc. (NASDAQ: ADI), is among the companies witnessing ups and downs since the start of this year. Yet if ADI stock price is to be considered as a metric to gauge the growth in the broader spectrum, the company performed well throughout the year. Analog Devices stock price rose over 11% year-to-date.&nbsp;</p> 
<p>The Massachusetts-based tech company will bring the quarterly earnings results on August 23, 2023. For the quarter ended in July 2023, the company expected revenue to stay around $3.1 Billion and the earnings per share (EPS) at $2.5. In comparison to the previous quarter, the estimates are relatively weaker as the company had stated in the outlook earlier.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-adi-stock-suffered-weak-outlook-for-upcoming-earnings-strong"><strong>ADI Stock Suffered Weak Outlook for Upcoming Earnings&nbsp;</strong></h2> 
<p>In May this year, Analog Devices reported better-than-expected earnings results. However, investors showed disinterest given the company’s projection of weaker guidance for the upcoming quarters. And it resulted in a fall of ADI stock price .</p> 
<p>The $92 Billion market capitalization company management forecasted weaker economic growth and normal supply circumstances. This was said to affect the sales gains in the second half of the ongoing fiscal year.</p> 
<p>Analog Devices’ outlook was not in line with the investors’ expectations. Hence, the ADI stock saw a fall despite the increased revenue and net income for the quarter.&nbsp;</p> 
<p>Despite the humble guidance, the company is keen to target hitting higher sales, earnings, and cash flow for the overall fiscal year. It is expecting a boost following the post-pandemic recovery to help the company achieve its yearly goals.</p> 
<h2 class="wp-block-heading" id="strong-adi-stock-price-movement-strong"><strong>ADI Stock Price Movement&nbsp;</strong></h2> 
<p>As mentioned earlier, the past months were apathetic to ADI stock price. It saw its yearly low at around $157 during the initial week of this year but changed the course with an upswing.&nbsp;</p> 
<p>Analog Devices rose as high as 25%, attaining the <a href="https://www.thecoinrepublic.com/2023/06/25/will-analog-devices-nasdaq-adi-stock-reach-200-next-month/" rel="noopener noreferrer nofollow">highest trading price of $200</a>, from the yearly low. But it lost its value to the current price of $184 and remained 15% up from the strong support level. The price level at $180 is acting as immediate support for ADI stock price.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/lNjvIKpaHdQOTcY8X7Mf6iwfeE5UodKkl5EMW3zxrHrCH7ADP_7_1LsgwTco_I6efvXkKCzVctJJ8azr49Erb805X3RlZ7_IoF5RykQtjhh_d-cM0fvBlHqG-BFZfEfWV4ui00uF0UCrwd5v0D_1PO0" alt="Is ADI Stock Price Losing Track After Attaining ATH at $200?"> 
  <figcaption class="wp-element-caption">
    Source: Analog Devices Inc (NASDAQ: ADI) Stock Price Movement on <a href="https://www.tradingview.com/x/bbdF07ra/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Currently, ADI stock is trading below the 50-day moving average of $189 while staging above the 200-day moving average of $180. MACD is indicating the stock price to take a downside move. RSI is at 50 affirming the entry into neutral territory.&nbsp;</p> 
<p>Analog Devices stock is likely to consolidate between the $180 to $190 price range before deciding a trend to follow. The upcoming quarterly results would be a major catalyst to set the course.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Is ADI Stock Price Losing Track After Attaining ATH at $200?

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Thecoinrepublic.com

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