Advanced Micro Devices (NASDAQ: AMD) stock is seeing significant bullish momentum Thursday. The semiconductor company's share price was up 3.8% as of 3:30 p.m. ET amid the backdrop of a 0.3% gain for the S 500 (SNPINDEX: ^GSPC) and a 0.2% gain for the Nasdaq Composite (NASDAQINDEX: ^IXIC). The stock had been up as much as 5.4% earlier in the day's trading.
AMD's valuation is climbing today following bullish coverage from HSBC. The bank's investment branch issued new coverage on the stock this morning, and other investors are buying up shares in conjunction with the latest research note.
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