How AMD Shares Rose 47% in July
Shares of Advanced Micro Devices (NASDAQ: AMD) soared in July 2020. The microchip designer saw three distinct jumps last month, adding up to a 47.2% gain overall, according to data from S&P Global Market Intelligence.
First, AMD shares rose 8% as the company introduced a new lineup of desktop processors, built on AMD's "Zen 2" architecture and etched out by a leading-edge 7-nanometer manufacturing process. Next, arch-rival Intel (NASDAQ: INTC) said that its own next-generation manufacturing process is running so late that the chip giant might have to rely on third-party manufacturing experts. That announcement was good for a 17% gain on AMD's stock chart.
Finally, AMD's second-quarter results came in well above analyst expectations to drive the stock another 13% higher in a single day.
Source Fool.com
