New York – Shares of semiconductor powerhouse Advanced Micro Devices Inc. (NASDAQ: AMD) surged in mid-day trading on Thursday, May 2nd, showcasing significant investor enthusiasm. As of 1:27 PM EDT, AMD stock was trading at 2.61, or +2.70%, for the session.
This positive momentum builds significantly on the previous close of 98.40 and has maintained strength throughout the session. The stock reached an intraday high of $99.88, nearing the psychologically important 98.30**. The day’s chart indicates a steady upward trend following the opening bell, with consistent buying interest pushing the price higher.
As a leading designer of high-performance computing, graphics, and visualization technologies, AMD’s stock performance is closely watched within the tech sector and broader market. With a market capitalization of $160.47 Billion, the company plays a crucial role in powering everything from personal computers to data centers. Notably, the stock trades at a high Price-to-Earnings (P/E) ratio of 99.02 and does not currently offer a dividend.
Today’s price action places AMD significantly above its 52-week low of 187.28. The strong intraday gain suggests positive sentiment surrounding the semiconductor sector or company-specific factors may be driving the stock higher.
Investors will be monitoring whether AMD can sustain this momentum into the closing bell and potentially breach the $100 threshold, a level it came very close to earlier in the session. The nearly 3% rise represents a notable move for the widely followed chip stock during Thursday’s trading.
