TLDR
- AMD stock rose more than 8% in pre-market trading and moved above $330 on April 24.
- Intel reported revenue of $13.6 billion and earnings per share of $0.29, which exceeded expectations.
- Stifel raised its price target on AMD to $320 and maintained a Buy rating.
- Analyst Ruben Roy linked AMD’s outlook to multi-gigawatt commitments from Meta Platforms and OpenAI.
- The VanEck Semiconductor ETF has gained 27.73% year-to-date, outperforming the S&P 500.
Advanced Micro Devices (NASDAQ: AMD)shares jumped more than 8% in pre-market trading on April 24 and crossed $330. The rally extended weekly gains as analysts raised targets and chipmakers posted strong results. Traders reacted to fresh earnings data and upbeat guidance across the semiconductor sector.
Advanced Micro Devices, Inc., AMD
AMD stock climbs after sector earnings boost outlook
Advanced Micro Devices traded sharply higher before the opening bell on Friday. The stock rose over 8% and moved above $330 in early activity. The gain followed strong quarterly results from Intel, which lifted peer valuations.
Intel reported $13.6 billion in quarterly revenue, topping analyst estimates. The company posted adjusted earnings per share of $0.29, exceeding expectations. Executives issued upbeat guidance, which supported confidence across chipmakers.
Stifel responded by raising its price target on AMD to $320 from $280. Analyst Ruben Roy maintained a “Buy” rating in his updated note. He wrote that investors should assess AMD as a key artificial intelligence supplier.
Roy linked his view to multi-gigawatt commitments from Meta Platforms and OpenAI. He stated that large-scale deployments shape AMD’s long-term revenue base. He added that servers using AMD processors power expanding data centers.
Roy also pointed to the upcoming Helios rack platform launch in late 2026. He said this systems-level approach influences how markets value the company. Shares traded above Stifel’s new target during pre-market hours.
AMD plans to release its next earnings report on May 5. Traders shifted focus toward that update following the price surge. The company has not issued further guidance since the rally.
Chip demand lifts ETF performance and supply chain names
Semiconductor stocks posted strong gains during the week. The VanEck Semiconductor ETF climbed 27.73% year-to-date. In contrast, the S&P 500 advanced 4.07% over the same period.
The ETF tracks 25 chip-related companies across manufacturing and design. Its largest holdings include Taiwan Semiconductor Manufacturing and ASML. Shares of TSM rose 23% this year, while ASML gained 32%.
AMD relies on Taiwan Semiconductor Manufacturing for chip production. Therefore, sustained demand for advanced processors supports both companies. Analysts tied this demand to expanding data center infrastructure.
Graphics processors have driven much of the current spending cycle. However, hyperscale companies are now increasing orders for central processing units. That shift supports broader demand for high-performance server chips.
AMD supplies CPUs and GPUs for enterprise and cloud customers. Its data center portfolio targets workloads linked to artificial intelligence processing. The stock traded above $330 in pre-market hours on April 24.
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