AMD stock surging to new record after Xilinx earnings

1 month ago 14
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Shares of Advanced Micro Devices Inc. AMD, +7.29% are up much than 6% successful Thursday day trading and connected way to adjacent astatine a caller record. The banal precocious changed hands astatine $104.45, making this the archetypal league successful which AMD’s banal has ever traded supra $100 intraday. The rally builds connected a 7.6% post-earnings tally during Wednesday’s league and comes pursuing a beardown study from Xilinx Inc. XLNX, +6.59% aft Wednesday’s closing bell. AMD is successful the process of acquiring Xilinx successful a woody it expects to adjacent by the extremity of the year, and Xilinx showed beardown traction successful its concern Wednesday aft delivering what Cowen & Co. expert Matthew Ramsay called “well-above-consensus revenue.” The institution grew gross by 21% “despite ongoing industry-wide proviso concatenation challenges,” it said successful its release. Xilinx shares are up 5% successful Thursday trading.

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