Is Advanced Micro Devices a Safe Coronavirus Stock?
Shares of Advanced Micro Devices (NASDAQ: AMD) have been on fire lately. After initially falling with the broader market in March over the COVID-19 pandemic, the stock has rebounded strongly and doubled in value over the last year.
Chip stocks are typically cyclical, meaning sales can turn lower when business spending slows or competitors engage in a price war. But none of that is hurting AMD. The current environment, with more people working from home, seems to be fueling its momentum. The company recently reported robust performance on the top line in its first-quarter earnings report.
Here's what is fueling AMD's business, and why it could be a safe investment in this environment.
Source Fool.com
