Shares of chip and semiconductor stocks, including Advanced Micro Devices, Inc. (NASDAQ:AMD), are trading higher. A weekend report from the Semiconductor Industry Association showed November sales of $51.7B. Additionally, a report from Euler Hermes showed expected semi sales growth of 9% for 2022.

Shares of several companies in the broader technology sector were also trading higher last week on a continued rebound after the recent omicron-driven selloff.

See Also: Why Tesla Shares Are Trading Higher Today

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 $164.46 and a 52-week low of $72.50.