AMD Share Price and News: AMD shows strength and closes higher to outpace markets

NASDAQ:AMD showed just how strong the stock has become as of late, shrugging off a near total market sell off to close Tuesday in the green. Shares of AMD added 0.07% and finished the trading session at $107.56. It was another red day for the chip industry as well with NVIDIA (NASDAQ:NVDA) falling by 2.47% and Intel (NASDAQ:INTC) dipping by 1.46% during the session. In a year that has been affected by a global chip shortage, AMD has seen its stock continuously hit new all-time highs on a near daily basis over the past few weeks. 

Speaking of NVIDIA, one of AMD’s chief rivals is set to report its second quarter earnings on Wednesday. The stock has pulled back as of late ahead of its report, which is generally a sign that the market is either apprehensive or bearish about the numbers. In the first quarter of this year, NVIDIA reported an 84% year over year rise in revenues and a 13% sequential rise from the fourth quarter of 2020. Can the company top the $5.66 billion it reported in Q1? All eyes will be on CEO Jensen Huang on Wednesday, with investors looking for an update on the company’s acquisition of Arm.

AMD stock price

AMD rival Intel is set to join in the GPU industry as well with a new range of products called Intel Arc. Intel has a lot of ground to make up on AMD and NVIDIA, who are the two frontrunners for GPUs. Intel Arc will be rolling out graphics cards for both PCs and laptops, and should begin hitting the market as early as the first quarter of 2022.