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Advanced Micro Devices (NASDAQ:AMD) shares snapped six straight days of gains as the stock closed 1.73% lower, at $176.39 on Thursday.
The semiconductor maker gained more than 13% in the last six trading days. The stock closed 1.17% higher, at $179.51 on Wednesday.
The stock has gained more than 48% so far this year, outperforming the broader benchmark index, which has gained only 8% year-to-date.
Shares of AMD started its streak of gains on Monday after Wccftech reported that the company is thinking of increasing the price of its Instinct MI350 AI accelerator to $25,000 from $15,000.
The nearly 70% increase in average selling price is still cheaper than its counterpart product from tech giant Nvidia, the Blackwell B200. The report cited an HSBC analyst note.
The price increase indicates that AMD is seeing demand for its AI products, and it also suggests that such a high increase shows that the company’s quarterly revenue numbers may reflect notable growth, the report added.
Seeking Alpha’s Quant rating system has rated AMD stock HOLD, while sell-side analysts and SA authors see the stock as a BUY.