AMD leads a significant rally in chip stocks reminiscent of the dot-com bubble
Advanced Micro Devices (AMD) surged 20% after better-than-expected Q1 earnings and a strong Q2 revenue outlook, contributing to a broader rally in the semiconductor sector. The Invesco PHLX Semiconductor ETF (SOXQ) rose 3.1%, with the SOX index now 56% above its 200-day moving average, a level last seen in March 2000 at the peak of the dot-com bubble.
