AMD’s stock on track for best close since October 2006
Advanced Micro Devices Inc. AMD, +5.65% shares on Friday were on track to close at their highest price since October 2006 and looking at their best performing week in more than a year. AMD shares rose 5.9% to $23.60 at last check on heavy volume Friday for a sixth straight day of gains. Closing at that level, it would be the highest finish for AMD shares since Oct. 18, 2006, when shares closed at $24.23. On Thursday, AMD’s most bullish analyst hiked his target price on the stock to $30. For the week, shares are up 19%, on track for their best week since the week ended June 23, 2017, when shares finished up nearly 24% after AMD introduced its Epyc chip line. AMD shares are up 128% for the year, compared with a 9.6% gain on the PHLX Semiconductor Index SOX, +1.29% a 7.5% gain on the S&P 500 index SPX, +0.64% and a 15.1% rise in the Nasdaq Composite Index COMP, +0.86%
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