Advanced Micro Devices Stock Gains With Sector After Micron's Strong Results

Advanced Micro Devices Inc (NASDAQ:AMD) shares are climbing on Thursday, supported by improved market sentiment following softer November inflation data. Additionally, the stock is moving higher alongside other chip names after Micron Technology Inc (NASDAQ:MU) posted stronger‑than‑expected quarterly results and upbeat guidance.

Advanced Micro Devices shares are advancing steadily. Why is AMD stock trading higher?

What Happened: Micron reported fiscal‑quarter revenue of $13.64 billion, beating analyst estimates of $12.83 billion, according to Benzinga Pro. Adjusted earnings came in at $4.78 per share, topping expectations of $3.95 per share.

Looking ahead, Micron projected second‑quarter revenue of $18.7 billion, give or take $400 million, above the $14.16 billion analysts had forecast. The company also guided for adjusted earnings of $8.42 per share, with a range of 20 cents, nearly doubling expectations.

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Advanced Micro Devices Stock Gains With Sector After Micron's Strong Results

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