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Why Advanced Micro Devices Stock Was Up Earlier Today

TheMotleyFool

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Why Advanced Micro Devices Stock Was Up Earlier Today: https://g.foolcdn.com/editorial/images/706524/technician-checking-data-cloud-server.jpg

Advanced Micro Devices (NASDAQ: AMD) got a boost today following Meta Platforms' third-quarter earnings call late Wednesday afternoon.

Meta announced that it would maintain current spending plans on data centers and servers in 2023, which is good news for AMD's data center business. Shares of AMD were up as high as 4% this morning before giving up those gains.

Worries over a slowing PC market and the potential for that to spill over to weak chip sales in the data center space have sent AMD stock down 58% this year. Here's what Meta's guidance means for AMD in the near term.

Source Fool.com

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