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3 Things to Like in Advanced Micro Devices' First Quarter

Advanced Micro Devices is surging during Monday's session after the chipmaker reported first-quarter earnings after market close Thursday. Here are three reasons investors were pleased with the report. First, the company recorded top-line growth of 28.4% to $1.4 billion. Next, revenue guidance for the second quarter of flat to 6% growth beat analysts' expectations of a 3% decline. Finally, the company is showing signs of diversifying its revenue stream to compensate for dropping PC sales.