Why AMD Stock Is Jumping Today
Advanced Micro Devices (NASDAQ: AMD) stock is posting gains in Monday's trading. The company's share price was up 3.9% on the day as of 11:30 a.m. ET amid the backdrop of a 0.2% gain for the S 500 (SNPINDEX: ^GSPC) and a 0.4% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC).
AMD's valuation is climbing today following news that some of the company's latest graphics processing units (GPUs) have been selling well in Japan. The company's RX 9070 series gaming GPUs are selling out, and the tech specialist is facing production constraints.
AMD said that its Radeon processors are winning 45% of the Japanese gaming GPU market, although it isn't immediately clear what time period or sectioning the company used for its estimate. The tech specialist said that it's aiming to hit a market share of 70% in the space.
Source Fool.com
Advanced Micro Devices Inc. Stock
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