Why AMD Stock Surged This Week
Shares of Advanced Micro Devices (NASDAQ: AMD) jumped 11% this past week, as investors applauded the chipmaker's strong sales and profit growth metrics.
AMD's revenue soared 71% year over year to $5.9 billion in its fiscal first quarter, which ended on March 26. The semiconductor leader's results were boosted by its acquisition of Xilinx, a leading producer of programmable logic devices, in February.
Xilinx's field-programmable gate arrays can be configured by customers after they're manufactured. They're increasingly being used to improve the computing power and power efficiency of data centers.
Source Fool.com
