AMD stock gained 10% in September due to positive news items and upcoming AI event.

From Nasdaq: 2024-10-04 15:27:13

Shares of Advanced Micro Devices (NASDAQ: AMD) saw a 10% increase last month, outperforming the VanEck Semiconductor ETF. The company’s growth was driven by positive news items, including an upcoming AI event, a design win over Intel, and Oracle Cloud Infrastructure’s use of AMD’s accelerators.

AMD is set to showcase its latest AI offerings in an event on Oct. 10, which could further boost its stock. With strong growth in its data center GPU segment, AMD has the potential to challenge Nvidia in the market. Analysts are closely watching for new products that could drive further success.

Investors considering AMD should note that it was not among the 10 best stocks recently identified by the Motley Fool Stock Advisor team. However, the service has a strong track record of outperforming the S&P 500 with regular stock picks and portfolio guidance. Past recommendations like Nvidia have seen significant returns over time.



Read more at Nasdaq: Why Advanced Micro Devices Stock Gained 10% in September