Benzinga | Oct 14, 2021 12:44PM EDT

Why AMD Shares Are Rising

Shares of companies in the broader technology space, including Advanced Micro Devices, Inc. (NASDAQ:AMD) are trading higher amid a drop in yields, which has lifted growth stock valuations. Stocks across sectors have gained as investors weigh US unemployment data and recent corporate earnings.

The 10-year Treasury yield hit an intraday low of 1.507% Thursday morning before rising to around the 1.512% level. The 10-year note was volatile in September after the Federal Reserve spoke on winding down its ongoing asset purchasing program.

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.