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Advanced Micro Devices (AMD) stock rallied on Wednesday but the gains don’t have much to do with any news from the semiconductor company.
AMD's stock rally was driven by a U.S.-Iran ceasefire, not company-specific news.
KEY POINTS
- The ceasefire agreement includes reopening the Strait of Hormuz, easing global supply and price pressures.
- Goldman Sachs named AMD a top pick due to its PEG ratio falling below the global average.
- AMD's PEG ratio hasn't been this low since the dot-com bubble burst in the early 2000s.
COMPANIES
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