Advanced Micro Devices Stock Gained More Than 2% Today - Here's Why?

Advanced Micro Devices, Inc. AMD shares closed higher Wednesday. The stock continues to rebound from recent losses related to news from China, which shook the tech and semi sectors.

What To Know: AMD stock has risen by roughly 4% since reaching a low Monday. The recent decline in price followed news of China's ban on iPhones for official use and Huawei's Mate 60 and Mate 60 Pro smartphones, which aim to offer competition against foreign technology.

AMD's move higher was also not dampened by August's hot inflation report, with the broader semiconductor sector faring well in response.

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AMD Price Action: Shares of AMD closed up by 2.28% at $107.71 at the time of publication, according to Benzinga Pro.

Image by Republica from Pixabay