Advanced Micro Devices, Inc (NASDAQ:AMD) was rallying about 5% higher at one point on Thursday, in tandem with NVIDIA Corporation (NSDAQ: NVDA), which was spiking up about 3% on a positive reaction to its second-quarter earnings miss.
Nvidia reported earnings per share of 51 cents on revenues of $6.7 billion, which missed the consensus estimate for EPS of $1.25 on revenues of $8.1 billion. Nvidia traded lower in the premarket following the results but ran into a group of buyers when the market opened.
