's (NASDAQ: AMD) stock closed at a record high of $161.91 on Nov. 29, 2021. At the time, the bulls were impressed by its robust sales of CPUs, GPUs, and embedded chips. But by Oct. 13, 2022, its stock had sunk to a two-year low of $54.57.

The bulls retreated as the post-pandemic slowdown in PC sales curbed its growth and rising interest rates compressed its valuations. But after bottoming out, AMD's stock surged to about $110 today -- which would have doubled a $1,000 investment into over $2,000 in just nine months. Let's see why AMD bounced back so quickly -- and if it still has room to run. 

Image source: AMD.

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Source Fool.com