TLDR
- AMD stock rose ~4% Thursday to $268.66, hitting a new all-time high intraday at $270.12
- The stock is on track for a 12th consecutive daily gain — its longest winning streak since 2005
- AMD has climbed roughly 37% over the past 12 days and is up ~24% year-to-date
- TSMC’s strong Q1 earnings sparked a sector-wide rally, lifting AMD and other chip stocks
- Analyst price targets have been raised, with some as high as $365, ahead of AMD’s May 5 earnings
AMD stock hit a new all-time high Thursday, pushing toward a 12th straight day of gains — a run not seen since 2005.
Advanced Micro Devices, Inc., AMD
The stock climbed roughly 4% to $268.66 in early trading, with an intraday peak of $270.12. Over the past 12 days, AMD has gained around 37%. It’s up 24% since January and over 200% in the past 12 months.
A few things are driving the move at once.
TSMC, AMD’s primary chip manufacturing partner, reported a sharp jump in quarterly profit Thursday. The results pointed to strong demand for advanced chips used in AI and high-performance computing. Because TSMC is seen as a bellwether for the whole sector, the numbers gave AMD and other chip stocks a boost.
Intel also rose on the day. Nvidia and Marvell were down in early trading.
Macro Mood Helping Too
Broader market sentiment has also shifted. Hopes of a diplomatic breakthrough between the US and Iran — with Pakistan playing a role in mediation — have lifted risk appetite across tech stocks. Oil prices have stabilized, and supply chain concerns that had been weighing on the sector have eased somewhat.
That “risk-on” mood has pulled investors back into high-growth names, and AMD has been one of the main beneficiaries.
The stock is now up roughly 40% from its year-to-date low.
Wall Street Turning Up the Volume on AMD
Analyst enthusiasm has picked up ahead of AMD’s fiscal Q1 earnings on May 5.
Bernstein’s Stacy Rasgon is among those who have raised price targets, with some on the Street going as high as $365.
The bullish case centers on AMD’s partnership with Meta, its upcoming MI400 series AI chips, and the ROCm 7.0 software stack. Analysts believe these could help AMD take more market share from Nvidia in enterprise AI.
From a technical standpoint, AMD has pushed through its major moving averages, which analysts read as a sign of a strong uptrend. Its RSI is in the high 70s — a level that can signal short-term fatigue — but its MACD is still expanding to the upside.
The stock has gained more than 35% in just over two weeks.
AMD’s Q1 earnings are scheduled for May 5.
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