AMD Up on Strong August Semiconductor Sales: Is the Stock a Buy?

Advanced Micro Devices (AMD) shares gained 4.94% to close at $170.9 on Friday, following impressive semiconductor sales data for August. The Semiconductor Industry Association reported a 3.5% month-over-month increase and 20.6% year-over-year growth in global semiconductor sales, which hit $53.1 billion, the highest ever recorded for August. AMD’s chip peers — NVIDIA (NVDA) , Intel (INTC) and Broadcom (AVGO) — also rose 1.68%, 1.48% and 2.76%, respectively, following the strong sales data.  In the past one- ...