Why Advanced Micro Devices Stock Surged 17% in August

Why Advanced Micro Devices Stock Surged 17% in August

Shares of Advanced of Micro Devices (NASDAQ: AMD) gained 17.3% last month, according to data provided by S&P Global Market Intelligence. Fueling the enthusiasm around the stock is AMD's recent gains in market share against rival Intel (NASDAQ: INTC) in the server market. In August, one analyst issued a bullish call about AMD's prospects to continue taking share from Intel over the next few years, which buoyed the stock price.