Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of chip maker Advanced Micro Devices (NYSE: AMD) surged more than 13% on higher-than-average volume after reporting surprisingly strong third-quarter results. AMD also forecast fourth-quarter revenue above estimates.

So what: Revenue increased 4% year over year to $1.69 billion while adjusted profits came in at $0.15 per share, even with last year's Q3. Analysts had been calling for just $1.65 billion in revenue and $0.10 per share of earnings. AMD tempered expectations late last month when it disclosed production problems at its main supplier, GlobalFoundries.

Now what: More impressive, I'd say, is that AMD claimed to take laptop market share from its main rival, Intel (Nasdaq: INTC), in forecasting a 1% to 5% sequential revenue increase for next quarter -- or $1.77 billion in a best-case scenario. Analysts had been projecting $1.71 billion in Q4. Do you see AMD meeting or beating that target? Would you buy shares at current prices? Please weigh in using the comments box below.

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