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AMD jumps 9% in premarket trading as global chip stocks rally after earnings and geopolitics lift sector

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Shares of global semiconductor firms were boosted by some positive tech earnings and a report of potentially less severe U.S. export restrictions on China.

Shares of global semiconductor firms rallied on Wednesday as they were boosted by some positive earnings in the sector and a report of potentially less severe U.S. export restrictions on China.

AMD was among the big winners with shares up more than 9% in U.S. premarket trading after a strong second-quarter earnings report, while Samsung's was higher after a big jump in operating profit. ASML shares also jumped after Reuters reported new U.S. chip export restrictions to China could exclude allies like the Netherlands, Japan and South Korea.Shares of global semiconductor firms rallied on Wednesday as they were boosted by some positive earnings in the sector and a report of potentially less severe U.S. export restrictions on China.was among the morning's big winners with shares up more than 9% in U.S. premarket trading after the companyin its second-quarter financial report.

A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023.

 

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