Benzinga | Oct 7, 2021 10:49AM EDT

Why AMD Shares Are Rising

Shares of several companies in the broader technology sector, including Advanced Micro Devices, Inc. (NASDAQ:AMD), are trading higher in sympathy with the overall market on optimism Congress will near a deal that would prevent a government shutdown.

Shares of companies in the broader technology space have otherwise been trading lower in recent sessions amid a rise in bond yields, which has weighed on growth stock valuations.

Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the personal computer and data center markets via CPUs and GPUs.

AMD has a 52-week high of $122.49 and a 52-week low of $72.50.