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This chart shows AMD stock at historically overbought levels

MarketWatch
This chart shows AMD stock at historically overbought levels

There’s an old saying among chart watchers that overbought doesn’t mean over, but the recent rapid run-up in Advanced Micro Devices Inc. shares have propelled prices to technically thin-air levels that have only been seen once since the bursting of the internet bubble. The stock AMD, +7.35% soared 7.1% in afternoon trade Friday, putting it on track to close at a more-than 12-year high. It has more than tripled year to date (up 218%) following blow-out earnings reports and optimism over its new chipsets, while chief rival Intel Corp. shares INTC, -0.07% have lost ground and the broader chip sector has only nudged higher. Read more about Intel’s first beat market in 2 years. Don’t miss: AMD stock