Shares of semiconductor star Advanced Micro Devices (NASDAQ: AMD) surged 2% following an upgrade to outperform by investment banker Bernstein, the first in a decade. Bernstein acknowledged missing out on AMD’s growth but cited recent stellar execution and attractive valuations as reasons for the upgrade.

Bernstein highlighted AMD’s stock trading under 30-times near-term EPS and approaching its cheapest valuation in five years. Despite forward price-to-earnings ratios, AMD shares are valued at 44 times trailing earnings, making it a relative bargain compared to Nvidia. Bernstein sees this as an opportunity to recommend AMD stock after a decade.

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The CDC announced that fully vaccinated people can now go without masks in most indoor and outdoor settings, except for crowded areas like buses and planes. This decision comes as COVID-19 cases continue to decline across the US.: Why Advanced Micro Devices Stock Just Popped