Advanced Micro Devices Inc. (NASDAQ:AMD) shares are trading higher Friday morning. The rally follows impressive sales data from a key partner.

The Nasdaq is up 0.05% while the S&P 500 has shed 0.07%.

TSMC Revenue Boosts Chip Sector

Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) reported a 35.1% year-over-year revenue increase for the first quarter. Sales reached approximately $35.6 billion. This performance exceeded analyst estimates of $35.2 billion.

AI Demand Remains Resilient

The rising tide effect is lifting the semiconductor industry. TSM reported that March sales alone rose 45.2%. This growth indicates that global AI infrastructure spending remains aggressive.

Technical Analysis

At $243.70, AMD is trading 17.8% above its 20-day simple moving average (SMA), the stock's average price over the last 20 sessions. It's also 13.9% above its 100-day SMA.

The moving average convergence divergence (MACD), a trend/momentum measure, is bullish with the MACD at 5.7273 above the 1.8694 signal line, which is consistent with upside momentum still having the edge. Traders may also note the 20-day SMA remains below the 50-day SMA.

AMD has returned 176.66% over the past 12 months, a backward-looking read that shows the longer-term trend has been decisively higher. The stock is also sitting closer to its $267.08 52-week high than its $78.87 low.

• Key Resistance: $267.00
• Key Support: $200.00

AMD Stock Price Activity: Advanced Micro Devices shares were up 3.03% at $243.81 at the time of publication on Friday, according to Benzinga Pro data.

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