AMD share price tops dotcom-era record high

Chip manufacturer tipped to have another strong year

Chip challenger AMD has seen its share price reach an all-time high, beating a record it set at the height of the dotcom era in 2000.

The vendor continued its strong run from last year on the first day of trading yesterday, with its shares climbing over seven per cent to $49.10.

AMD was the best-performing S&P 500 company last year, according to Bloomberg, with its valuation climbing over 150 per cent.

The growth is part of a renaissance started around the beginning of 2016, with the vendor's share price climbing over 2000 per cent since.

Despite now being valued at nearly $54bn, AMD is still a fraction of the size of $265bn competitor Intel. Intel has however not reached its own dotcom-era peak in the years since.

But AMD is expected to continue its upward trajectory after strong product launches last year. Its next-generation Ryzen chip was well received, while the vendor also returned to the server chip market back in 2017.

Big partnerships with Microsoft and HP also boosted AMD's standing.

At the start of the year the vendor's chips unveiled in a new HP Chromebook, with HP's UK channel boss Neil Sawyer telling CRN: "We see AMD's presence in the market growing and we want to be a part of that."

Then in October, Microsoft launched its new Surface Laptop 3 with custom-built AMD Ryzen chips.

AMD is set to publish its quarterly numbers later this month.