Did AMD Just Give a Big Reason to Buy Nvidia Stock Hand Over Fist?

You've probably heard the adage, "Birds of a feather flock together." This old saying is often applicable to stocks. Good news for a company can be good news for its rivals and vice versa.Advanced Micro Devices (NASDAQ: AMD) stock declined sharply on Wednesday after announcing its third-quarter results. Some could interpret this sell-off as potentially a warning sign for the company's top rival, Nvidia (NASDAQ: NVDA). However, that isn't necessarily the case. Did AMD instead just give a big reason to buy Nvidia stock hand over fist?Let's first look at why AMD stock sank. The chipmaker reported Q3 revenue that was slightly higher than Wall Street's expectations. Its earnings were in line with the consensus estimate. Normally, those kinds of results wouldn't lead to a significant drop in a company's share price.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool