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Advanced Micro Devices' Rally Will Reverse Course Soon

Advanced Micro Devices (AMD) has been a strong performer over the past few months.

The stock has shot up thanks to two successive quarters of good results. However, its rally may have peaked as the stock hardly has any upside to offer at this point. All the good news is probably baked into the current rally, and Advanced Micro Devices is likely to head lower in the near future.

What about debt?

Advanced Micro Devices' huge debt is bad news. The company has a long-term debt of $2.14 billion in its books with maturities starting in 2019, and it is necessary for it to repay $600 million in 2019 and $450 million after that.

The company has total cash of $957 million. Apart from the debt repayment, the company also has to introduce new chips to compete against its foremost...