Warren Buffett’s Binge, AMD Rally Stays Afloat

The market wavered on Monday, and even with two of the three major indices shedding ground, stocks still finished broadly higher for August.

The S&P 500 closed out its best August performance since 1986, advancing 7%, while the Dow Jones Industrial Average posted a 7.6% gain, its best returns for the month since 1984.

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The blue-chip benchmark managed to set that mark despite a lackluster end to the month; the Dow fell 223 points, or 0.8%, to finish at 28,430 on Monday.

Buffett turns to Japan. Warren Buffett’s Berkshire Hathaway (ticker: BRK.B, BRK.A) bought 5% stakes in five different Japanese conglomerates, each of which pays a healthy dividend and most of which trade for significant discounts to book value.

Buffett, who turned 90 on Sunday, has lamented a lack of value in U.S. markets, and Berkshire’s $146 billion in cash at the close of last quarter has been sitting around earning practically nothing in U.S. Treasurys.

AMD on a tear. Semiconductor company Advanced Micro Devices ( AMD) continued a remarkable run on Monday, advancing 6.2% and finishing as the second-best performer in the S&P 500 on the day. AMD’s Ryzen processors are earning early kudos, adding to the momentum the stock has built upon the heels of rival Intel’s ( INTC) struggles, the inclusion of AMD chips in upcoming PlayStation 5 and Xbox Series X consoles, and prospects for market share gains in the PC and data center markets.

Shares are up 98% year to date.

Tesla soars post-split. Tesla ( TSLA) shares, which just underwent a 5-for-1 split, soared yet again on Monday, adding more than 12% in the day’s session. Shares of the electric vehicle company are up more than 400% in 2020 alone as Tesla has consistently beat analyst expectations and traders have piled into shares.

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Warren Buffett?s Binge, AMD Rally Stays Afloat originally appeared on usnews.com

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