Advanced Micro Devices Sharply Higher Amid Intel Chatter, Analyst Day

Advanced Micro Devices, Inc. AMD shares are trading higher by $1.13 (10.5 percent) at $12.55 in Tuesday's session.

There are reports that Intel INTC will replace its Nvidia NVDA Graphics card with AMD. Both AMD and Intel spokespersons declined to make any comments regarding the rumor.

AMD will be holding its analyst day Tuesday afternoon.

See Also: Intel Has Reportedly Ditched Nvidia For Advanced Micro Devices

AMD's stock is now trading higher for the sixth day in a row.

After a higher open, it had a 3-cent retreat to $11.63 before continuing its move higher. It has continued to make new highs for the session, with the current one standing at $12.55 as of 2:30 p.m. EST. The stock is now trading trading in a lightly-traded area since it swooned from $13.62 to $10.62, when the Street wasn't satisfied with its Q1 report.

In order to fill the void in price from its May 1 session, it would need to reach $13.25.