Why is AMD trading higher? – Invesco QQQ Trust, Series 1 (NASDAQ:QQQ),…

Why is AMD trading higher? – Invesco QQQ Trust, Series 1 (NASDAQ:QQQ),…

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Advanced Micro Devices, Inc AMD Stocks are trading higher and moving in line with Marvell Technology Inc MRVLfollowing Marvell’s strong first-quarter results and its forecast that AI revenue will at least double by 2024.

The broader tech sector is also getting a boost from the continued positive momentum resulting from this NVIDIA Corporation NVDA Q1 results exceeding expectations.

The techie Invesco QQQ Trust Series 1 QQQ is also trading at 52-week highs.

Optimism surrounding the ongoing debt ceiling discussions continues to strengthen the industry and create a favorable environment for technology stocks like AMD.

Price promotion: As a result, shares of AMD are trading up 4.15% to $125.35 to Benzinga Pro dates.

Now read: Why is Palantir trading higher?

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