AMD stock surges to record after outlook contrasts with Intel’s ‘faceplant’

Advanced Micro Devices Inc.’s stock surged to fresh records Wednesday after the chip company’s strong second quarter and outlook signaled a sea change in the semiconductor market following Intel Corp.’s announced delays of next-generation chips last week. AMD AMD, +12.36% shares rallied more than 12% in early morning trading, opening at $75.50, easily surpassing Monday’s record open of $69.28. Late Tuesday, AMD topped Wall Street estimates on its quarterly results and outlook, boosting a full-year outlook that had been considered optimistic even before the COVID-19 pandemic hit. Analysts, on...