AMD soars to record, joins $1 trillion club as chip stocks rally

QUALCOMM Incorporated

21/09/2026 16:43

** Advanced Micro Devices AMD.O shares rising 9.1% to $610.87 after hitting new record high, and its market cap crossed the $1 trln threshold for the first time on Mon amid a broader advance in chip stocks on AI-driven demand
** AMD becomes the fourth-largest US chipmaker to top the $1 trln mark; milestone caps a stellar rally for the co, regarded as the closest rival to AI bellwether Nvidia NVDA.O for graphics processing units
** This as Philadelphia Semiconductor index .SOX rises ~3.6% on the session to about a 1-month high; biggest SOX winners are Arm Holdings ARM.O and Intel INTC.O, jumping nearly 15% and 14%, respectively
** NVDA up 1%, Qualcomm's QCOM.O shares gaining 8% on Mon
** AMD stock recently traded at 41 times expected earnings vs its 5-yr avg of 31x, per LSEG data 
** Avg rating of 55 analysts covering the stock is "buy"; median PT of $600 up from $479 on Jun 21      
** With move on Mon, stock up about 185% YTD
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))