What's Up With AMD's Stock Reaching An All-Time High Monday?

Advanced Micro Devices, Inc. AMD shares are trading higher by 3.4% at $109.82 Monday afternoon in sympathy with ON Semiconductor, which reported better-than-expected second-quarter EPS and sales results.

ON Semiconductor reported quarterly earnings of 63 cents per share which beat the analyst consensus estimate of 49 cents per share.

ON Semiconductor also reported quarterly sales of $1.67 billion which beat the analyst consensus estimate of $1.62 billion.

Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the personal computer and data center markets via CPUs and GPUs.

AMD has a 52-week high of $109.85 and a 52-week low of $72.50.