What happened Shares of semiconductor star Advanced Micro Devices (NASDAQ: AMD) jumped on Tuesday, and are up 2% as of 11:30 a.m. ET. You can thank investment banker Bernstein for that. So what This morning, Bernstein upgraded shares of AMD to outperform -- the analyst's first upgrade of the semiconductor stock to a buy level in a decade, as StreetInsider.com just pointed out. In a very personal note, Bernstein admitted that "long ago as baby sell-side researchers [Bernstein was] among the most bullish on the street on AMD," but had its hopes "dashed by GloFo execution issues & the start of the PC market collapse." Once burned, twice shy, Bernstein then "watched ... from the sidelines" as "the stock subsequently climb[ed] from sub-$2 to over $100.
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