Here's Why AMD Stock Rose 29% in November

Motley Fool2022-12-08

What happenedShares of AMD climbed 29.3% in November following a positive earnings announcement, a new product announcement, and analyst upgrades. Investors are bullish about the semiconductor stock'...

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HengHuat
2022-12-09
HengHuat
Continue to grow please
WLing
2022-12-08
WLing
[Strong]
phantom74
2022-12-08
phantom74
like

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Investors are bullish about the semiconductor stock's momentum in the data center industry, which is an enormous market that's growing quickly.So whatAMD's third-quarter earnings report impressed Wall Street, even though it cut revenue forecasts for the remainder of the year. The chipmaker is struggling with a weak global PC market, but the company still reported nearly 30% growth in the third quarter. Its data center segment is the primary catalyst for that growth, and it seems like that momentum will continue.AMD's server processor market share now stands above 27%, and it's expected to exceed 30% next year. Numerous high-profile producers of server hardware use AMD chips, giving the semiconductor leader exposure to all of the major cloud computing leaders. That's an enviable spot to occupy.More good news followed earnings, as AMD stock was upgraded by two different analysts. The company also announced a new generation of data center chips. 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