Stock Alert: Advanced Micro Spikes 4%

(RTTNews) - Shares of semiconductor company Advanced Micro Devices are climbing more than 4% Tuesday morning at $55.32, close to its 52-week high of $59.27. There are no company-specific news to move the stock up.

Even during the coronavirus pandemic, although AMD reacted with the broader market, it bounced back strongly and rose nearly 40% in less than 3 months.

When the company reported first-quarter results in April, revenue had increased 40% year-on-year at $1.79 billion. In the second quarter, although the company expects weaker demand due to Covid-19, it still sees revenue growth of about 25%.