Why Advanced Micro Devices Stock Jumped 25% in March
Shares of Advanced Micro Devices (NASDAQ: AMD) were moving higher last month as the chipmaker benefited from analyst upgrades, a perception that the downturn in the semiconductor industry would end sooner than expected, and a favorable response to earnings from Micron at the end of the month, though the memory chipmaker continues to struggle.
According to S&P Global Market Intelligence, the stock finished the month up 25%. As you can see from the chart below, the bulk of those gains came in the middle of the month as tech stocks rose after Silicon Valley Bank collapsed and investors bid up the chip sector as a whole.
Source Fool.com
