BUZZ - As chip stocks soar, AMD shares surge to an all-time high, joining the 'trillion-dollar club'

September 21 - ** Advanced Micro Devices (AMD.O) shares rose 9.1% to $610.87, hitting a record high earlier; on Monday, chip stocks rallied overall driven by artificial intelligence demand, and the company’s market value surpassed the $1 trillion threshold for the first time (link)

** AMD became the fourth U.S. chipmaker to surpass a $1 trillion market capitalization; this milestone marks the culmination of a remarkable surge in the company’s stock price, with AMD regarded as the closest competitor to AI bellwether NVIDIA (NVDA.O) in the graphics processing unit sector

** Meanwhile, the Philadelphia Semiconductor Index .SOX rose about 3.6% on the day, reaching a roughly one-month high; the biggest gainers in the SOX Index were Arm Holdings ARM.O and Intel INTC.O, surging nearly 15% and 14% respectively

** On Monday, NVIDIA (NVDA) rose 1%, and Qualcomm (QCOM.O) shares climbed 8%

** According to LSEG data, AMD’s recent price-to-earnings ratio stands at 41, while its average P/E over the past five years is 31

** The consensus rating from 55 analysts covering the stock is “Buy”; the median target price increased from $479 on June 21 to $600

** With Monday’s rally, the stock has surged approximately 185% so far this year

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