Schaeffer's Research: OCTOBER'S WORST STOCK MIGHT SURPRISE YOU
Chip stock Advanced Micro Devices, Inc. (NASDAQ:AMD) has more than tripled in the past six months, and could get a short-term boost after today's Fed rate hike, if recent history is any indicator. However, the shares could retreat heading into 2019, as AMD tends to struggle both in the month of October and in the fourth quarter.AMD went through a six-week topping pattern in 2000 and a month in 2006 after making its final high. If this is a topping pattern, it is already two weeks old.
Below are the 25 worst stocks to own in October and the fourth quarter, respectively, looking back 10 years. Per Schaeffer's Senior Quantitative Analyst Rocky White, AMD stock has ended the month lower 60% of the time, with an average loss of 8.95% -- the steepest on the list. Meanwhile, AMD has surrendered an average of 7.03% in the fourth quarter, ending higher just 30% of the time.
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