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MarketWatch First Take: AMD plans to find Zen and challenge Intel, stock shoots to multiyear high

Advanced Micro Devices Inc. is counting on finding Zen on a path to again becoming a stout rival to chip giant Intel Corp.

AMD has had several comeback attempts, more often than not followed by issues such as manufacturing problems, financial woes and executive upheavals. It is a favorite among short sellers on Wall Street but it is also a favorite as the perennial underdog in Silicon Valley, the David to Intel’s INTC, +0.77% Goliath.

Investors seem to be betting on this attempt finding fruit, though. AMD AMD, +8.24% shares have soared more than 14% in the last two session to a four-and-a-half-year high, including an 8.5% jump Friday amid hopes that the company could again prove its status as the comeback kid.

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