Though Wednesday was a flat day for the stock, Advanced Micro Devices Inc. (NASDAQ: AMD) looks likely to continue adding to a rally that has logged an impressive 65% since April. The strong uptrend has been characterized by a run of higher lows and higher highs, exactly what Wall Street wants to see after months of concerning underperformance.
These are great signs for investors who might have been, rightly so, getting worried about the stock's multi-month downtrend and divergence from its better-performing peers. Remember, AMD last hit an all-time high back in March 2024, while NVIDIA Corp (NASDAQ: NVDA) hit a peak in January of this year and is currently sitting less than $10 per share away from another record. That divergence makes AMD an interesting comeback play.
