What's Going On With AMD Shares

Advanced Micro Devices, Inc. AMD shares are trading higher by 3.87% to $120.41 Friday morning. The stock is moving higher despite a lack of company-specific news for the session. Moreover, major indexes have demonstrated upward movement for the week following the release of June CPI data, which indicated inflation rates lower than initial expectations.

Markets are also reacting positively this week after the Producer Price Index (PPI) for final demand recorded a 0.1% month-on-month rise in June, the Bureau of Labor Statistics said Thursday, rebounding from the revised 0.4% drop recorded in May but below the expected 0.2% rise.

AMD shares have also rallied some 88% on a year-to-date basis amid increased investor attention towards AI-related stocks.

What Happened With U.S. CPI Inflation?

U.S. CPI inflation in June decelerated more than anticipated, reinforcing investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle. The Bureau of Labor Statistics' data reveals a drop in the annual inflation rate from 4% in May to 3% in June, slightly below the average economist forecast of 3.1%.

This marks the twelfth consecutive month of declining inflation and the lowest reading since March 2021...Read More

See Also: Semiconductor Winners And Losers Are Growing Apart

According to data from Benzinga Pro, AMD has a 52-week high of $132.83 and a 52-week low of $54.57.