Key Highlights
- Shares of Advanced Micro Devices climbed approximately 4% Thursday, reaching $268.66 with an intraday peak of $270.12
- The semiconductor company is poised for its 12th consecutive session of gains — a streak unmatched since 2005
- The chip manufacturer has surged approximately 37% during this 12-day period, with year-to-date gains of around 24%
- Taiwan Semiconductor Manufacturing Company’s robust first-quarter results ignited a rally across the chip sector, benefiting AMD and peers
- Wall Street analysts have elevated their price projections, with some forecasts reaching $365, as the company prepares for its May 5 earnings report
Shares of Advanced Micro Devices reached unprecedented territory Thursday, extending what has become the company’s most impressive winning streak in nearly two decades.
Advanced Micro Devices, Inc., AMD
The semiconductor stock advanced approximately 4% to close at $268.66 during early market activity, touching an intraday high of $270.12. Throughout this remarkable 12-day stretch, the company’s shares have appreciated roughly 37%. Year-to-date performance stands at 24%, while the 12-month trajectory shows gains exceeding 200%.
Multiple catalysts are converging to fuel this exceptional rally.
TSMC, which serves as AMD’s principal chip fabrication partner, unveiled a significant surge in quarterly earnings Thursday. The financial results underscored robust demand for cutting-edge semiconductors utilized in artificial intelligence applications and high-performance computing platforms. Given TSMC’s status as an industry barometer, these impressive figures provided momentum for AMD and neighboring chip manufacturers.
Intel shares also experienced upward movement during the session. Meanwhile, Nvidia and Marvell posted declines in morning trading.
Favorable Market Conditions Adding Momentum
The wider market environment has experienced a positive shift as well. Optimism surrounding potential diplomatic progress between the United States and Iran — with Pakistan facilitating negotiations — has enhanced risk appetite throughout the technology sector. Crude oil valuations have found equilibrium, and supply chain anxieties that previously pressured the industry have diminished to some degree.
This “risk-on” environment has attracted capital back into growth-oriented equities, with AMD emerging as a primary recipient of this renewed investor interest.
The stock has now rallied roughly 40% from its lowest point this year.
Street Analysts Amplifying Bullish Outlook on AMD
Analyst optimism has intensified as Advanced Micro Devices approaches its fiscal first-quarter earnings disclosure scheduled for May 5.
Bernstein analyst Stacy Rasgon represents one of several voices raising price objectives, with certain Wall Street projections climbing as high as $365.
The optimistic investment thesis revolves around AMD’s strategic collaboration with Meta, its forthcoming MI400 series artificial intelligence processors, and the enhanced ROCm 7.0 software platform. Market observers anticipate these developments could enable AMD to capture additional enterprise AI market share currently held by Nvidia.
From a chart perspective, AMD has broken through key moving average levels, which technical analysts interpret as confirmation of a robust upward trajectory. The relative strength index currently sits in the high 70s — a zone that may indicate near-term exhaustion — though the MACD indicator continues to demonstrate upside expansion.
The stock has appreciated more than 35% in slightly over two weeks.
Advanced Micro Devices is scheduled to report first-quarter results on May 5.
