Key Highlights
- Shares of AMD climbed approximately 4% Thursday, reaching $268.66 and touching an intraday record of $270.12
- The chipmaker is experiencing its 12th consecutive session of gains — the most extended rally since 2005
- Over the 12-day stretch, AMD has surged approximately 37%, with year-to-date gains of roughly 24%
- Taiwan Semiconductor’s impressive Q1 results triggered a broad semiconductor sector rally that benefited AMD
- Wall Street analysts have increased price projections, with some targets reaching $365 before AMD’s May 5 earnings report
Shares of Advanced Micro Devices reached a fresh all-time high on Thursday, extending an extraordinary rally to a 12th consecutive session — a feat last accomplished nearly 20 years ago.
Advanced Micro Devices, Inc., AMD
The semiconductor company’s stock advanced approximately 4% to close at $268.66 during early market activity, after touching an intraday high of $270.12. This remarkable 12-day run has delivered cumulative gains of about 37%. Since the start of the year, shares have appreciated 24%, and over a 12-month period, the stock has rocketed more than 200%.
Several catalysts are converging to fuel this momentum.
TSMC, which serves as AMD’s principal chip fabrication partner, announced a substantial increase in quarterly earnings Thursday. These results highlighted robust demand for cutting-edge semiconductors deployed in artificial intelligence applications and high-performance computing environments. Given TSMC’s status as an industry barometer, the impressive figures provided tailwinds for AMD alongside other semiconductor equities.
Intel shares also experienced gains during the session. Meanwhile, Nvidia and Marvell saw modest declines in morning trading.
Broader Market Conditions Provide Additional Support
The overall market environment has also become more favorable. Optimism surrounding potential diplomatic progress between the United States and Iran — facilitated by Pakistani intermediaries — has elevated risk appetite throughout the technology sector. Crude oil prices have found stability, while supply chain anxieties that previously pressured the industry have diminished to some degree.
This “risk-on” environment has encouraged investors to return to high-growth stocks, with AMD emerging as a primary winner from this shift in sentiment.
From its year-to-date trough, the stock has now appreciated approximately 40%.
Analyst Community Grows Increasingly Optimistic
Wall Street’s confidence has intensified in anticipation of AMD’s first quarter fiscal earnings announcement scheduled for May 5.
Bernstein analyst Stacy Rasgon represents one of several professionals who have elevated their price objectives, with certain Street projections climbing as high as $365.
The optimistic outlook revolves around AMD’s strategic collaboration with Meta, the forthcoming launch of MI400 series AI accelerators, and the ROCm 7.0 software platform. Market watchers believe these initiatives position AMD to capture additional market share from Nvidia in the enterprise artificial intelligence segment.
From a chart perspective, AMD has broken above key moving average indicators, which technical analysts interpret as confirmation of a robust upward trend. The stock’s Relative Strength Index has climbed into the upper 70s — territory that can indicate near-term overbought conditions — though the MACD indicator continues showing positive momentum expansion.
The semiconductor company has accumulated gains exceeding 35% in slightly more than a fortnight.
AMD is scheduled to report first quarter results on May 5.
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