History Says AMD Stock's $1 Trillion Milestone Isn't a Ceiling
The three chipmakers with a full year of history past $1 trillion all kept climbing. Can AMD?
Overview
Advanced Micro Devices (NASDAQ:AMD) closed at $615.52 on Monday, Sept. 21, up about 10% for the day and worth over $1 trillion for the first time. It became the fourth U.S. chipmaker to hit the mark, after Nvidia (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), and Micron Technology.
The shares have eased a little since, to about $608, which still leaves AMD's value close to $1 trillion. Even so, the stock is up about 184% this year as of this writing.
Details
A round number doesn't change anything about a business. But several chipmakers crossed the same line before AMD, and three of them now have a full year of history on the other side of it.
Source
Originally published at www.fool.com.