AMD Stock’s Relentless Rally Pushes It Into The Trillion-Dollar Club, Albeit Briefly – Chip Stocks Light Up Wall Street

The semiconductor rally came alongside a roughly 3% decline in U.S. crude prices and lower Treasury yields, helping lift broader U.S. equity indexes.

• AMD’s move toward the $1 trillion mark comes as several semiconductor names have already joined the club, including Broadcom and Micron.
• However, it remains well below Nvidia, Apple, Alphabet and the other large technology companies. 
• Arm and Intel also extended their recent rallies, with both stocks gaining more than 10%.

Advanced Micro Devices (AMD) shares surged to a record high in morning trading Monday, briefly lifting the chipmaker above the $1 trillion market-capitalization mark amid a broad rally in semiconductor stocks led by Arm Holdings (ARM) and Intel (INTC).

AMD stock rose over 9% in morning trade and was the top trending ticker on Stocktwits at the time of writing. The shares hit a record high of over $613, crossing the $1 trillion valuation threshold, before paring gains down to around $609 per share. 

Retail sentiment around the company remained in ‘bullish’ territory over the past day, accompanied by ‘high’ levels of chatter.

AMD’s market capitalization stood at more than $998 billion at the time of writing, according to Koyfin data.

The $1 Trillion Dollar Club

Company	Ticker	Approx. market cap
Nvidia	NVDA	$5.37 trillion
Apple	AAPL	$4.91 trillion
Alphabet	GOOG	$4.21 trillion
Microsoft	MSFT	$3.67 trillion
Amazon	AMZN	$2.74 trillion
Taiwan Semiconductor Manufacturing Co.	TSM	$2.25 trillion
SpaceX	SPCX	$2.01 trillion
Broadcom	AVGO	$1.71 trillion
Meta Platforms	META	$1.70 trillion
Tesla	TSLA	$1.44 trillion
Micron Technology	MU	$1.15 trillion
Berkshire Hathaway	BRK-B	$1.09 trillion
Eli Lilly	LLY	$1.03 trillion

Source: Compiled from Yahoo Finance data on September 21, as of 10:30 a.m. ET<

ARM, INTC Lead Broad Semiconductor Rally

AMD’s gains came amid a sharp move higher across semiconductor stocks, with Arm and Intel among the biggest gainers in morning trading.

ARM stock jumped more than 12% and was also among the top trending tickers on Stocktwits, while INTC stock gained more than 11%, extending a recent rally across chip stocks. Retail sentiment around both companies trended in ‘bullish’ territory over the past day. 

The move comes as investors continue to focus on demand for semiconductors tied to artificial intelligence and data-center infrastructure. AMD has been one of the major beneficiaries of the broader AI infrastructure buildout, competing with Nvidia (NVDA) across data-center accelerators and CPUs.

NVDA stock edged only 0.4% higher in morning trade, lagging its peers. Retail sentiment around the Jensen Huang-led AI bellwether was also trending in the ‘bearish’ zone over the past day. 

Why Are Semiconductor Stocks Rallying?

Monday’s broader market rally came alongside a pullback in oil prices, with U.S. crude futures falling about 3% to just above $96 a barrel. International benchmark Brent crude also declined roughly 3% to above $100 a barrel.

Treasury yields also moved lower. The 10-year Treasury yield fell more than 3 basis points to 4.963%, while the 30-year yield declined more than 2 basis points to 5.298%.

Meanwhile, broader U.S. equity indexes moved higher, with the SPDR Dow Jones Industrial Average ETF (DIA) up 0.50%, the SPDR S&P 500 ETF (SPY) gaining 0.98% and the Invesco QQQ Trust (QQQ) rising 1.98% at the time of writing. 

The iShares Semiconductor ETF (SOXX) gained as much as 3.4% in morning trade, hitting an over one-month high. 

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