AMD stock jumps amid boosted sales from Taiwan Semiconductors, chip industry

Yahoo Finance Live examines the chip space after Taiwan Semiconductors experiences a boost in sales.

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JARED BLIKRE: Time to jump over and switch industries, everything flying higher today. That's what we've been talking about. Chip stocks no exception. AMD leading semiconductors higher after one of its suppliers, Taiwan Semi, they posted huge beats on sales for October. TSM is the world's largest chip foundry, and they count Apple, Qualcomm, Nvidia, and many others, including AMD, among its customers.

Also working in favor of the stock movements today is the strongest rally in the major indices since the pandemic lows of 2020. And AMD up 14% today. Well, let's tell you this. AMD said it's updating its server chip lineup to woo more business from Intel, the so-called-- the new so-called Genoa design. It features more cores, access to better memory, and more efficient power use.

Let me pull up a year to date of AMD. Now this is another stock, a big one, but it's been under pressure as well. You can see it's down about 52%. The trend has been from the lower-- upper left to the lower right. You put a 20-year. Let's do that, a little bit longer term view. And you can see up 1,000% over two decades, Seana and Rachelle.

RACHELLE AKUFFO: I mean, we know it's been a tough year for chipmakers, even despite the CHIPS Act sort of waiting for a lot of these chipmakers to really get the benefits of that. Intel is supposed to be a primary beneficiary of that. But then also when we look at what's happening in China with some of their supply issues as well, a lot for the semiconductors to have to juggle this year, Seana.

SEANA SMITH: Yeah, certainly, and we've seen that reflected in the stock performance so far year to date, Jared, like you were just saying. So certainly a massive bounce today. A lot of that has to do with the broader rally that we're seeing, but we'll see whether or not the chipmakers are able to hold on to some of these gains. We know some recent notes from the Street have been getting a little bit more positive on the sector, so we'll see what 2023 holds.