Advanced Micro Devices Inc. shares (AMD) are up another 3.4% in Friday trading, building on gains of 16.2% notched in Thursday's session. The stock is trading at a new 13-year high. Optimism for the company's new Rome server chip ( ) helped send shares higher on Thursday, as AMD's competitive pricing and technical specifications fueled hope for share gains at the expense of Intel Corp. (INTC), which has enjoyed its own recent stumbles. AMD's Friday rise comes on a down day for the chip industry, with the PHLX Semiconductor Index off 0.9% after President Donald Trump said that the U.S. would not be doing business ( ) with Huawei Technologies Co. Nvidia Corp. (NVDA) and Micron Technology Inc. (MU) are among the notable decliners in the session, with shares off more than 2%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 09, 2019 13:51 ET (17:51 GMT)
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