Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower by 2.13% to $122.60 Wednesday morning. The stock is trading lower, potentially amid profit-taking, after rising roughly 16% over the trailing five sessions as shares of several tech and AI-related companies rose following NVIDIA Corporation first-quarter earnings.
AMD shares also saw strength last week and were trading higher after B of A Securities raised its price target on the stock from $105 to $120.
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Driven by the recent, exceptional performance showcased by the broader semiconductor industry and AI-related stocks, AMD shares have experienced a substantial upswing of approximately 92% year-to-date.
According to data from Benzinga Pro, AMD has a 52-week high of $130.79 and a 52-week low of $54.57.
