Why Shares of Advanced Micro Devices Rose 15.2% in April
Shares of Advanced Micro Devices (NASDAQ: AMD) rose 15.2% in April, according to data from S&P Global Market Intelligence. The high-growth chipmaker experienced a rebound from March, when the coronavirus broke out across the world, leading to fears of a recession.
Recessions are usually very bad for semiconductors, since consumers and businesses pull back on purchases. But AMD bounced back, as investors realized its chips will find heavy use in laptops and data centers, which saw a surge in demand amid the stay-at-home economy. The company also reported earnings late in the month, which met analyst expectations.
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Source Fool.com
