Key Highlights
- Shares of AMD surged approximately 4% Thursday, reaching $268.66 and touching an intraday record of $270.12
- The chipmaker is on pace for its 12th consecutive session of gains — the longest such streak in nearly 20 years
- Over this 12-day period, the stock has rallied approximately 37%, with year-to-date performance now at ~24%
- Taiwan Semiconductor Manufacturing Company’s impressive Q1 results ignited a broad semiconductor sector rally
- Wall Street analysts have lifted their price projections, with targets reaching as high as $365 before the company’s upcoming earnings report on May 5
Shares of Advanced Micro Devices soared to fresh record territory Thursday, extending an extraordinary winning streak that hasn’t been witnessed since 2005.
Advanced Micro Devices, Inc., AMD
The semiconductor giant’s shares jumped approximately 4% to $268.66 during morning trading sessions, with prices touching an intraday zenith of $270.12. The remarkable 12-day rally has delivered gains of roughly 37%. Since the start of the year, AMD has advanced 24%, while the 12-month performance shows a staggering increase of over 200%.
Multiple catalysts are converging to fuel this impressive momentum.
TSMC, which serves as AMD’s key manufacturing partner for chip production, unveiled a substantial increase in quarterly earnings Thursday. The robust figures highlighted vigorous demand for cutting-edge semiconductors utilized in artificial intelligence applications and high-performance computing environments. Given TSMC’s status as an industry barometer, these results provided significant uplift to AMD and its semiconductor peers.
Intel’s shares also experienced gains during the session. Meanwhile, Nvidia and Marvell saw modest declines in early market action.
Broader Market Dynamics Providing Additional Support
The overall investment landscape has experienced a positive shift as well. Emerging prospects for diplomatic progress between the United States and Iran — facilitated through Pakistani mediation efforts — have enhanced appetite for risk across technology equities. Crude oil valuations have found stability, while supply chain anxieties that previously pressured the sector have diminished to some degree.
This favorable “risk-on” environment has drawn capital back into high-growth technology names, with AMD standing out as a primary winner.
The stock has now rallied approximately 40% from its lowest point this year.
Analyst Community Increasingly Optimistic on AMD Prospects
Street sentiment has grown more bullish in anticipation of AMD’s fiscal first-quarter financial results scheduled for May 5.
Bernstein analyst Stacy Rasgon ranks among those who have elevated their price objectives, with certain Wall Street forecasts climbing to $365.
The optimistic outlook revolves around AMD’s strategic collaboration with Meta, its forthcoming MI400 series AI accelerators, and the enhanced ROCm 7.0 software platform. Market watchers believe these developments position AMD to capture increased market share from Nvidia in the enterprise artificial intelligence segment.
From a chart perspective, AMD has broken through key moving average resistance levels, which technical analysts interpret as confirmation of robust upward momentum. The Relative Strength Index hovers in the upper 70s — territory that can indicate near-term overbought conditions — though the MACD indicator continues showing positive divergence.
The semiconductor company has accumulated gains exceeding 35% in slightly over two weeks.
AMD is slated to report its Q1 financial performance on May 5.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
