Shares of Advanced Micro Devices (NASDAQ: AMD) jumped 7.5% on Wednesday, as a broad rise in tech stocks helped drive the Nasdaq Composite index sharply higher.
AMD's gains come after bullish analyst remarks earlier this week. On Tuesday, D.A. Davidson analyst Ben Wilson highlighted what he says is a rapid deployment of AMD's processors by Amazon (NASDAQ: AMZN). The e-commerce giant is reportedly ramping up its use of AMD's next-gen chips on its Amazon Web Services cloud computing platform, which Wilson sees as a powerful growth driver for AMD's data center business.
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Source Fool.com