AMD Stock Winning Streak Longest Since 2005. Can It Keep It Going?

Dow Jones04-16 22:49

While Nvidia’s 11-day winning streak has been grabbing headlines lately, Advanced Micro Devices has been on a tear of its own.

Shares in the semiconductor company were up 5% at $271.08 in early trading Thursday—on track to close at a record high, according to Dow Jones Market Data. The stock is set to rise for a 12th consecutive day, its longest winning streak since 2005, climbing 35% over that period.

Shares are up 198% over the past 12 months, and 23% since the start of the year. More recently the stock has capitalized on broad market optimism, including for tech companies, relating to the recent cease-fire in Iran.

For its part, Taiwan Semiconductor Manufacturing—the world’s largest contract chip maker—reported a sharp rise in quarterly profit on Thursday. Other chip stocks were mixed in early trading— Nvidia was down, Intel was up, and Marvell was down.

Nvidia’s streak may be under threat but AMD’s hot run is set to survive another day at least—and maybe more.

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