Shares of AMD (NASDAQ: AMD) climbed 29.3% in November following a positive earnings announcement, a new product announcement, and analyst upgrades. Investors are bullish about the semiconductor stock's momentum in the data center industry, which is an enormous market that's growing quickly. The chipmaker is struggling with a weak global PC market, but the company still reported nearly 30% growth in the third quarter.
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Shares of both Advanced Micro Devices (NASDAQ: AMD) and Nvidia (NASDAQ: NVDA) have taken a beating on the stock market in 2022 thanks to a slowdown in chip demand in the personal computer (PC) market and sanctions on sales of data center chips to China, but they look set to end the year on a high. AMD and Nvidia have shot up 16% and 37%, respectively, since the beginning of October thanks to the broader recovery in the stock market, triggered by signs of cooling inflation and expectation that the Federal Reserve could now reduce the pace of interest rate hikes. Advanced Micro Devices is bearing the brunt of the slowdown in PC sales this year.