Why AMD Stock Jumped 28% in June
Shares of Advanced Micro Devices (NASDAQ: AMD) were moving higher again last month as the chip stock made more acquisitions to push its AI strategy and unveiled its future plans and goals at its Advancing AI conference.
Additionally, the stock benefited from the broader upward trend in stocks on solid economic data and as concerns about the trade war faded.
According to data from S&P Global Market Intelligence, the stock finished the month up 28%. As you can see from the chart below, the stock's gains primarily came in two stages. The first was in response to the Advancing AI event, and later in the month, as the broad market gained as tensions in the Middle East cooled, AMD got an endorsement from some big-name investors.
Source Fool.com
Advanced Micro Devices Inc. Stock
€180.76
-0.820%
The stock is one of the favorites of our community with 112 Buy predictions and 3 Sell predictions.
With a target price of 220 € there is a positive potential of 21.71% for Advanced Micro Devices Inc. compared to the current price of 180.76 €.
