Superior Micro Gadgets Inc.
mentioned Wednesday its board authorised a $4 billion share repurchase program. “In the present day’s announcement displays our confidence in AMD’s enterprise and the profitable execution of our multi-year progress technique,” mentioned Lisa Su, AMD’s chief govt, in an announcement. “Our sturdy monetary outcomes and rising money era allow us to spend money on the enterprise and start returning capital to our shareholders.” The corporate mentioned there isn’t a time restrict on this system. AMD shares jumped 3% to $76.60 following the announcement. Shares closed at an all-time excessive of $97.25 on Jan. 11, and are down practically 17% for the yr. Over the previous 12 months, AMD shares have grown 39%, in contrast with a 40% acquire on the S&P 500 Index
and a 44% rise on the tech-heavy Nasdaq Composite Index