Why AMD Stock Surged Nearly 10% on May 28
By Sanmit AminMay. 30 2019, Published 10:26 a.m. ET
AMD stock has been on a tear for the last two years
Advanced Micro Devices (AMD) is one of the most active stocks out there. The company sees movements of over 1% either way. The stock has had another fantastic year, soaring 63% in 2019 after climbing 85% in 2018!
While others in the semiconductor industry are seeing their stocks struggle due to the ongoing trade war between the United States and China, AMD stock has been on a tear. The stock is up over 5% in May. The semiconductor sector as tracked by the iShares PHLX Semiconductor ETF (SOXX) has fallen 16.3%.
AMD said its Ryzen chip outperformed Intel’s CPU by 16%
AMD stock jumped 9.8% on May 28, as investors were upbeat about its new line of chips, which they think could help it steal some market share from Intel (INTC). AMD said on May 26 that one of its Ryzen chips had outperformed one of Intel’s CPUs by over 16%! Experts now expect AMD’s market share in the PC segment to increase. Intel stock fell 2% on May 28.
At the Computex Industry Show in Taiwan, the chip maker pitched its new third-generation Ryzen chips, which it will launch in July this year.
However, lately, like NVIDIA, AMD’s revenue growth has taken a hit due to the crypto hangover in 2018 and the first quarter of 2019. However, cryptocurrency mining could soon be back in vogue due to the sudden 2017-like surge in cryptocurrencies as of late.
