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Earnings Results: AMD stock closes at highest price in over a decade after best earnings in 7 years

Advanced Micro Devices Inc. shares rose in the extended session Wednesday after the chip maker’s quarterly results topped Wall Street estimates on strong revenue gains and its best earnings in seven years.

AMD AMD, -0.86% shares advanced 4.9% after hours, after closing down 0.9% at $16.05 in the regular session. In comparison, the S&P 500 index SPX, +0.91% gained 0.9% and the tech-heavy Nasdaq Composite Index COMP, +1.17% rose 1.2% in Wednesday’s regular session. AMD shares closed up 56% for the year on Wednesday, while the S&P 500 is up 6.5% and the Nasdaq has gained nearly 15%.

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