Shares of Advanced Micro Devices (NASDAQ: AMD) made gains last month after the chipmaker benefited from a rise in tech stocks, a weak report from rival Intel, and anticipation for its own fourth-quarter earnings report, which came out after market hours on Jan. 31. According to data from S&P Global Market Intelligence, AMD stock rose 16% in January. The Nasdaq gained nearly 11% last month, pushing stocks higher broadly as investors reacted to signs that inflation was cooling off and that the Federal Reserve would continue to slow down its interest rate hikes.
There's no need to call for a postmortem on Intel because the roundly despised chipmaker isn't actually dead.
The Q4 earnings season continues to show that while growth is moderating and decelerating, it isn't falling off the cliff that many appeared to fear could be in store for us.