AMD Shares Soar 14% as SOXX Records Historic 17-Day Win Streak
AMD shares jumped 14% after Intel’s Q1 earnings beat spurred a sectorwide chip rally. The Philadelphia Semiconductor Index notched a record 17-day win streak and SOXX gained 30% in April, with AMD among leading contributors alongside Nvidia and Broadcom.
1. Intel Q1 Earnings Ignite Sector Rally
Intel’s data-center and AI division revenue jumped 22% to $5.1 billion, fueling a 23.6% surge in its shares and sparking a broad chip rally across major semiconductor names.
2. AMD Shares Jump 14%
AMD stock climbed 14% on April 24 as investors rotated into chipmakers positioned to benefit from accelerating AI-driven computing demand and lifted sector benchmarks.
3. Record 17-Day SOXX Win Streak
The Philadelphia Semiconductor Index extended its longest winning streak to 17 days, while the SOXX ETF surged 30% and SMH gained 25% in April, highlighting sustained momentum in the chip space.