Key Highlights
- AMD shares gained approximately 4% Thursday, closing at $268.66 with an intraday high of $270.12
- The chipmaker extends its winning streak to 12 consecutive sessions — matching its longest rally since 2005
- Shares have surged approximately 37% during this 12-day period, with year-to-date gains reaching 24%
- Strong Q1 results from TSMC triggered widespread momentum across semiconductor stocks
- Wall Street analysts have increased price targets ahead of AMD’s May 5 earnings call, with projections reaching $365
Advanced Micro Devices achieved a fresh record high Thursday, extending its winning streak to 12 consecutive sessions for the first time in nearly two decades.
Advanced Micro Devices, Inc., AMD
Shares advanced approximately 4% to reach $268.66 during early market activity, touching an intraday peak of $270.12. The 12-day rally has delivered cumulative gains of roughly 37%. Year-to-date performance stands at 24%, while the trailing 12-month return exceeds 200%.
Multiple catalysts have converged to fuel the momentum.
TSMC, which serves as AMD’s principal chip fabrication partner, delivered quarterly earnings Thursday that exceeded expectations significantly. The results highlighted robust demand for cutting-edge semiconductors powering artificial intelligence applications and high-performance computing systems. As an industry barometer, TSMC’s performance provided upward momentum for AMD alongside other semiconductor manufacturers.
Intel shares also climbed during the session. Nvidia and Marvell experienced early declines.
Favorable Market Conditions Provide Tailwinds
The broader investment landscape has grown increasingly supportive. Optimism surrounding potential diplomatic progress between the United States and Iran — with Pakistan facilitating negotiations — has strengthened investor appetite for technology equities. Oil markets have found stability, while supply chain pressures that previously constrained the sector have diminished.
This constructive environment has attracted capital flows back into high-growth technology names, positioning AMD as a primary beneficiary.
Shares have climbed approximately 40% from their lowest point this year.
Analyst Community Grows Increasingly Bullish
Wall Street coverage has intensified ahead of AMD’s fiscal first-quarter earnings report scheduled for May 5.
Bernstein analyst Stacy Rasgon represents several firms that have elevated their price objectives, with the most optimistic projections reaching $365.
The positive outlook emphasizes AMD’s collaboration with Meta, the forthcoming MI400 series AI accelerators, and the enhanced ROCm 7.0 software platform. Industry watchers anticipate these developments could enable AMD to capture additional enterprise AI market share currently dominated by Nvidia.
Technical indicators show AMD trading above all major moving averages, which market observers interpret as evidence of sustained upward momentum. The Relative Strength Index has climbed into the high 70s — territory that can indicate near-term exhaustion — though the MACD continues showing positive divergence.
The stock has posted gains exceeding 35% over approximately two weeks.
AMD will report first-quarter financial results on May 5.
