Why AMD Stock Skyrocketed 74% in April
Shares of Advanced Micro Devices (NASDAQ: AMD), which primarily makes central processing units (CPUs) and graphics processing units (GPUs) for enabling artificial intelligence (AI) in data centers, rocketed 74.3% in April, according to data from S&P Global Market Intelligence. To say this is an amazing monthly performance for a large-cap stock is a great understatement.
For context, shares of AI GPU leader Nvidia gained 14.4% in April. For additional context, last month the S 500 index returned 10.5%, and the tech-heavy Nasdaq Composite index returned 15.3%.
So, AMD stock got a brisk tailwind from the overall market's strength. Indeed, both major indexes notched all-time highs in April, with each posting its best monthly performance since 2020.
Source Fool.com
Advanced Micro Devices Inc. Stock
Currently there is a rather positive sentiment for Advanced Micro Devices Inc. with 109 Buy predictions and 5 Sell predictions.
As a result the target price of 516 € shows a positive potential of 22.61% compared to the current price of 420.85 € for Advanced Micro Devices Inc..
