Advanced Micro Devices Inc.’s stock surged to fresh records Wednesday after the chip company’s strong second quarter and outlook signaled a sea change in the semiconductor market following Intel Corp.’s announced delays of next-generation chips last week. AMD AMD, +12.36% shares rallied more than 12% in early morning trading, opening at $75.50, easily surpassing Monday’s record open of $69.28. Late Tuesday, AMD topped Wall Street estimates on its quarterly results and outlook, boosting a full-year outlook that had been considered optimistic even before the COVID-19 pandemic hit. Analysts, on...
Full ArticleAMD stock surges to record after outlook contrasts with Intel’s ‘faceplant’
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