Why AMD Stock Soared 57% Higher in 2021
Shares of scrappy chip-industry underdog AMD (NASDAQ: AMD) rocketed 57% higher in 2021, according to data provided by S&P Global Market Intelligence. It builds on an incredible run the company has been on in recent years. Since the start of 2018, AMD stock is up a whopping 1,300%.
Image source: Getty Images.
AMD's success is thanks to its technological advancements in chip design for PCs and data centers. The company laid the foundation for this transformation back in 2009 when it spun off its chip-fabrication division Globalfoundries (NASDAQ: GFS) and then sold off its remaining equity stake in 2012. Since then, AMD has had flexibility in choosing manufacturing partners, and this flexibility has allowed the company to double down on its chip-design engineering.
Source Fool.com
