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Here's Why AMD Stock Rose 29% in November

TheMotleyFool

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Here's Why AMD Stock Rose 29% in November: https://g.foolcdn.com/editorial/images/712209/gettyimages-1223150089.jpg

Shares of AMD (NASDAQ: AMD) climbed 29.3% in November following a positive earnings announcement, a new product announcement, and analyst upgrades. Investors are bullish about the semiconductor stock's momentum in the data center industry, which is an enormous market that's growing quickly.

AMD's third-quarter earnings report impressed Wall Street, even though it cut revenue forecasts for the remainder of the year. The chipmaker is struggling with a weak global PC market, but the company still reported nearly 30% growth in the third quarter. Its data center segment is the primary catalyst for that growth, and it seems like that momentum will continue.

Image source: Getty Images.

Source Fool.com

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