Why AMD Stock Hit A New All-Time High This Week – Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices, Inc. AMD shares are trading higher by 2.2% to $166.16 during Friday’s session after Raymond James maintained a Strong Buy and raised its price target from $140 to $190.

Shares of several semiconductor and chip stocks also gained late this week in sympathy with Taiwan Semiconductor Mfg. Co. Ltd. after the company reported strong fourth-quarter financial results.

Several chip stocks are also gaining Friday in potential sympathy with Supermicro after the company said it expects to exceed prior second-quarter financial guidance.

What Happened With TSMC Earnings Thursday?

Taiwan Semiconductor Manufacturing Company Ltd (TSMC) reported fourth-quarter revenue of $19.62 billion, showing a 1.5% year-on-year decrease but surpassing the consensus estimate of $19.45 billion. The earnings per share (EPS) were $1.44, exceeding the consensus of $1.37.

“Our fourth quarter business was supported by the continued strong ramp of our industry-leading 3-nanometer technology,” said Wendell Huang, VP and CFO of TSMC…Read More

See Also: AI Stocks Dominate In January: Nvidia, Juniper, Palo Alto Lead The Charge

According to data from Benzinga Pro, AMD has a 52-week high of $168.60 and a 52-week low of $67.45.

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