Why AMD Stock Skyrocketed 74% in April

Shares of Advanced Micro Devices (NASDAQ: AMD), which primarily makes central processing units (CPUs) and graphics processing units (GPUs) for enabling artificial intelligence (AI) in data centers, rocketed 74.3% in April, according to data from S&P Global Market Intelligence. To say this is an amazing monthly performance for a large-cap stock is a great understatement.For context, shares of AI GPU leader Nvidia gained 14.4% in April. For additional context, last month the S&P 500 index returned 10.5%, and the tech-heavy Nasdaq Composite index returned 15.3%.So, AMD stock got a brisk tailwind from the overall market's strength. Indeed, both major indexes notched all-time highs in April, with each posting its best monthly performance since 2020. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool