Why AMD's Stock Is Trading Higher Today

Advanced Micro Devices AMD shares are trading higher after Intel Corporation INTC announced its 7nm product transition has been delayed and expects to see initial production shipments in the first half of 2023.

Advanced Micro Devices, which is a competitor to Intel, will likely benefit from Intel's delay.

AMD designs and produces microprocessors for the computer and consumer electronics industries.

AMD's stock was trading up 12.33% at $66.80 per share on Friday at the time of publication. The company has a 52-week high of $66.95 and a 52-week low of $27.43.