Advanced Micro Devices (NYSE:AMD) stock closed 11.58% higher on April 6 due to the coronavirus rally. The broader markets, including the Dow Jones, the S&P, and the Nasdaq Composite, each rose by more than 7% on Monday. The broader markets have risen due to fewer coronavirus cases in the US. Among the total cases reported in the US, there have been fewer new virus cases in the US from 15.1% on March 31 to 8.1% on April 5. The decline has infused optimism among investors, which led to a stock market rally.
Like AMD, Nvidia (NASDAQ:NVDA) stock also rose over 10% on Monday. Intel (NASDAQ:INTC) gained 7.94%, while Micron (NASDAQ:MU) rose over 12% due to increased optimism among investors. The Dow Jones futures have risen around 3.36% this morning. The S&P futures and Nasdaq futures have risen by 2.99% and 2.62%, respectively. AMD stock has also risen in the pre-market session today. So far, AMD has risen by more than 2.7% as of 8:00 AM ET.
AMD stock ended the trading day at $47.52 on Monday after reaching its high of $59.27 on February 19. The stock is trading 19.8% below its 52-week high of $59.27 and 82.6% above its 52-week low of $26.03. At Monday’s closing price, AMD’s market cap was $55.6 billion.