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Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading higher by $0.75 (6.7 percent) at $11.99 in Tuesday's session.
With no specific news out on the issue Tuesday, the rally may be attributed to the delayed reaction from Apple Inc. (NASDAQ:AAPL)'s Worldwide Developers Conference keynote address Monday afternoon. The latest iMac Pro to be released in December will support even better machine learning development, faster coding and virtual reality design powered by AMD's Radeon Vega Graphics.
See Also: Everything You Need To Know From Apple's Worldwide Developers Conference 2017 Keynote Address
After a flat open, AMD immediately found support at Monday's close ($11.24) and began to rocket higher. The ensuing rally has taken the stock into the $12.00 handle for the first time since May 17, when it reached $12.29 but ended that session at $11.25.
The previous day it had a high of $12.77, when it was rumored Intel was considering dropping use of Nvidia products for AMD.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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