Key Highlights
- Shares of AMD jumped approximately 4% Thursday to reach $268.66, with an intraday record of $270.12
- The chipmaker is poised to close its 12th consecutive session in positive territory—the longest such streak in 20 years
- Over the past 12 trading days, shares have surged approximately 37%, with year-to-date gains of around 24%
- Taiwan Semiconductor Manufacturing Company’s robust first-quarter results triggered widespread optimism across the semiconductor industry
- Wall Street analysts have increased their forecasts, with several projecting targets up to $365 before the company’s upcoming earnings call on May 5
Shares of Advanced Micro Devices reached a fresh record Thursday, extending an extraordinary rally that marks the company’s longest consecutive gain streak in two decades.
Advanced Micro Devices, Inc., AMD
The semiconductor giant saw its shares climb approximately 4% to $268.66 during morning trading, touching an intraday high of $270.12. This remarkable 12-session run has delivered gains of roughly 37%. Year-to-date, the stock has advanced 24%, and over the trailing 12-month period, it has more than tripled with gains exceeding 200%.
Several catalysts are converging to fuel this momentum.
TSMC, which serves as AMD’s principal foundry partner, unveiled impressive quarterly earnings Thursday that exceeded expectations. The Taiwan-based manufacturer’s results highlighted robust demand for cutting-edge semiconductors powering artificial intelligence applications and high-performance computing systems. Given TSMC’s status as an industry barometer, the positive report provided a tailwind for AMD and its semiconductor peers.
Intel shares also advanced during the session. Nvidia and Marvell experienced modest declines in early trading.
Favorable Market Conditions Providing Additional Support
The broader market environment has also become more constructive. Optimism surrounding potential diplomatic progress between Washington and Tehran—with Pakistani officials reportedly facilitating negotiations—has boosted investor appetite for technology equities. Crude oil markets have found stability, while supply chain disruptions that previously pressured the sector have begun to diminish.
This renewed risk appetite has driven capital flows back into growth-oriented technology names, with AMD emerging as a primary beneficiary of the shift.
From its 2025 low point, the stock has now rallied approximately 40%.
Analyst Community Grows Increasingly Optimistic
Street sentiment has intensified in anticipation of AMD’s first-quarter fiscal results, scheduled for release on May 5.
Bernstein analyst Stacy Rasgon is among several research professionals who have lifted their price objectives, with the most aggressive forecasts reaching $365.
The optimistic thesis revolves around AMD’s strategic collaboration with Meta Platforms, its forthcoming MI400 series accelerators designed for AI workloads, and the enhanced ROCm 7.0 software platform. Many on Wall Street believe these initiatives position AMD to capture additional enterprise AI market share from dominant player Nvidia.
From a chart perspective, AMD has broken above key moving average levels, which technical analysts interpret as confirmation of a sustained uptrend. The relative strength index currently sits in the high 70s—a reading that can indicate near-term overbought conditions—though the MACD indicator continues to show positive momentum divergence.
The semiconductor company has delivered gains exceeding 35% in slightly more than two weeks.
Investors will receive the company’s first-quarter financial results on May 5.
