Shares of Advanced Micro Devices Inc. (NASDAQ:AMD) moved higher on Tuesday for the second straight session and were up 0.29% during Thursday session after the semiconductor industry analysts reported that there could be many reasons for investor interest. Shares of the California based firm, having major operations in Austin, rallied more than 7 percent Tuesday, or 49 cents, to settle at $7.50. The shares pared some of that rally in initial trading Wednesday, slipping by 2 percent, or 16 cents.
In Oct. 20, Advanced Micro Devices Inc (NASDAQ:AMD) reported third-quarter earnings that consisted of bigger losses but hiked revenue for the second straight quarter. Shares moved down on Oct. 21 but jumped up on Monday and Tuesday — moving up almost $1 per share.
Industry experts are not sure what is igniting the surge for a firm best regarded for products that produce high-quality graphics for applications like gaming. The semiconductor industry is combining and it’s chance that investors have gotten wind of a takeover. Or it might be just response to AMD’s revenue growth, or a debt reformation— or some other combination of factors, Dean McCarron stated, president of Arizona-located Mercury Research Inc. There are different reasons for why their stock price is higher and a takeover is just one of them,” he reported on Tuesday.
AMD’s shares were rallying above 160 percent so far this year and almost $8, a level previously observed in March 2012. Its stock moved higher in August following the firm launched it new “Zen” microprocessor for gamers.