Benzinga | Nov 4, 2021 11:24AM EDT

Why AMD Shares Are Rising

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading higher in sympathy with peer companies. Qualcomm reported strong Q4 results and NVIDIA gained after Wells Fargo analysts raised their price target on the stock from $245 to $320.

AMD is also trading higher by 34.6% over the past month amid ongoing strength in chip companies.

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. Additionally, the firm supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox.

AMD has a 52-week high of $135.78 and a 52-week low of $72.50.