Chip Stock Surges to Record Highs Thanks to Intel Halo Lift

Advanced Micro Devices (AMD.OQ) surged 12% to a record high of $341.86 after Intel’s strong quarterly report reignited AI trade optimism, lifting semiconductor sector sentiment. AMD is pacing for its fourth straight gain, its biggest single-day percentage jump since Oct. 6, and its seventh consecutive weekly win — leaving the stock up about 60% year-to-date. Heavy options activity accompanied the move (311,000 calls vs. 219,000 puts), with the weekly 4/24 360-strike call the most popular contract, and AMD’s Schaeffer’s put/call OI ratio sitting in the 95th percentile, suggesting short-term bearish positioning that could flip into fuel for further upside. Despite optimism, the 12-month analyst consensus target of $287.76 remains roughly 16.8% below current levels, and 12 of 46 brokers still rate the stock a “hold,” leaving room for additional bull-case revisions. Overall, the article frames AMD’s rally as a market-impacting, AI-driven sector move supported by elevated options demand and analyst divergence.