What's Going On With AMD Stock?
Portfolio Pulse from Henry Khederian
Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading higher by 3.2% to $145.30 following positive economic reports indicating a stronger-than-expected economic recovery. U.S. retail sales data for July showed a 1% increase, and initial jobless claims fell, suggesting a strengthening labor market. These factors are likely to boost demand for AMD's technology products.
August 15, 2024 | 3:22 pm
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AMD shares are up 3.2% due to stronger-than-expected U.S. retail sales and lower jobless claims, which indicate a robust economic recovery. This is likely to increase demand for AMD's processors and graphics cards.
The positive economic indicators, such as higher retail sales and lower jobless claims, suggest increased consumer spending power. This is particularly beneficial for AMD, as higher demand for electronics and tech products will likely drive sales of its processors and graphics cards.
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