Advanced Micro Devices (AMD) shares rose 3.6% to $215.88 in late trading Monday, as the chipmaker announced the immediate appointment of Ariel Kelman as its new senior vice president and chief marketing officer. The move contributed to positive momentum for the semiconductor sector during the extended session.
Broader Market Context
The gain occurred alongside a wider rally in technology stocks. The Invesco QQQ Trust, which tracks the Nasdaq-100, climbed about 0.8%, while the VanEck Semiconductor ETF advanced roughly 1.2%. This uptick reflects investor focus on upcoming U.S. economic data and continued scrutiny of capital expenditure plans from major technology firms.
AMD reiterated its first-quarter revenue outlook, projecting sales around $9.8 billion, plus or minus $300 million. This forecast includes an estimated $100 million from sales of its Instinct MI308 accelerators to the Chinese market.
Sector Performance and Key Catalysts
Other chip stocks mirrored the sector's movement. NVIDIA added approximately 2.4%, and Broadcom increased 3.3%. In contrast, Intel shares declined 0.7%.
Market participants are balancing optimism for artificial intelligence hardware demand against persistent concerns. These include the potential for uneven AI spending cycles, pricing pressure from large cloud customers, and the competitive threat of custom chip development by those same clients.
Attention now turns to several near-term catalysts. NVIDIA is scheduled to report its fourth-quarter results on February 25, an event highly anticipated by the AI chip sector. Furthermore, the release of the U.S. January Consumer Price Index (CPI) data on February 13 is expected to influence interest rate expectations, which could impact high-valuation technology stocks like AMD.
