Big Blue has been in serious talks several years ago to take over AMD - there are many links on the web about it. Also I suspect that it's a likely candidate for one of the secret founders of the HSA foundation (apart from MS and Apple). Also Rory Read is ex IBM.
However, I have reasons to believe it wasn't a takeover rumor that was fueling the rally.
But I must admit, it looked like some buyers were trying to buy below the radar (for whatever reasons). The pre-market trading was really low, and then booom: several (what it seems) computer generated buys.
IBM missed the street earlier this month. I don't know what percentage of their revenue is generated from sales of Xboxes, but a miss by a penny for any company is still a miss and will hurt. IBM spends approxmately 2-5 billion per year on acquisitions. AMD fundamentals and share price is on the cusp of a major turnaround, any potential suitors would be wise to cease the opportunity at this point in time. I'm not proclaiming that this might have been the cause of today's price action, but it's most welcome and i will continue to hold my shares.....
Uh do you think people are stupid? IBM makes the processor for the xbox 360 while AMD makes it's graphics. However AMD will not only be doing that for the next generation consoles coming out end of year but they'll be selling the processor as well. AMD will corner the gaming console market for the first time this year EVER... No other company has ever had this kind of dominance. best part is it's all x86 based and almost the same processor will be sold to retail.. Cha Ching for amd in 2013-2014