AMD’s stocks were some of the most resilient this month. Where Intel’s share price fell to a several month low of $47, red stocks not only surpassed them, they left them far behind.
At the beginning of July, AMD started at $52. Fast forward to present day and you’ll see that the stocks are valued at $77. That’s a gain of around 50% in just a month. So how did this happen? To understand that let’s have a look at Intel’s fortunes this month.
Intel started the month at a rather stable $60-ish. Then a week back when the company’s Q2 earnings were announced, the shares began to plummet. Although the earnings report itself was quite positive, the six-month delay in the chipmaker’s 7nm roadmap made investors panic. At the same time, AMD gained by roughly the same amount that Intel lost as analysts and investors both flocked to the Red banner.
Finally, when AMD announced its Q2 report a few days back, the record growth once again pushed the stocks to an all-time high of $78. At present, AMD’s shares are trading at $77.43, all set to hit the $100 mark if the company is able to deliver on its roadmap by the end of the year.