Why Advanced Micro Devices Stock Was a big Winner on Wednesday

A broad rally in beaten-down software stocks, combined with a positive analyst note, helped Advanced Micro Devices (NASDAQ: AMD) stock to rise by over 8% on Wednesday. Another factor positively affecting sentiment was the company's position as an incumbent chipmaker, on a day when the most high-profile company in that space reported earnings.AMD was already benefiting from the generally positive momentum in software titles because, all things being equal, the better that segment of the tech market performs, the better the business of semiconductor companies. Previously, legacy software businesses had been hammered over fears of disruption from artificial intelligence (AI) models that could do their work faster and cheaper. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool