AMD Just Joined the $1 Trillion Club. Here's Why Investors Are Betting Big on the Chipmaker.
Investors are willing to pay more for AMD's future earnings.
Overview
Advanced Micro Devices (NASDAQ:AMD) hit a major milestone on Sept. 21, surpassing the $1 trillion market capitalization mark. AMD becomes the fourth chipmaker in the rarefied club, joining Nvidia, Broadcom, and Micron Technology.
AMD shares have been on a huge run, jumping 187% so far this year and 23% in the last week as the semiconductor sector rebounds. And while the company has long toiled in Nvidia's formidable shadow, investors are finding plenty to like about the company and its role in the growth of artificial intelligence.
Image source: AMD.
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Originally published at www.fool.com.
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