AMD shares reached a record high of nearly $279 on April 16. The stock completed a 12-day winning streak, its longest since 2005. The rally pushed the share price toward the $300 milestone.
Strong earnings from Taiwan Semiconductor Manufacturing Company (TSMC) catalyzed the gains. TSMC serves as the primary manufacturing partner for AMD chips.
TSMC reported robust demand for advanced AI and high-performance computing hardware. The results bolstered confidence in AMD’s upcoming earnings and AI market competitiveness.