Advanced Micro Devices Inc.'s stock AMD, +2.94% bounced sharply in morning trade Monday, enough to make it the second-biggest gainer in the S&P 500 SPX, +1.59% , amid a broad rally in the semiconductor sector. The stock jumped 2.2%, after dropping 2.6% over the past two sessions, while the PHLX Semiconductor Index SOX, +1.41% gained 0.5% in morning trade. Shares of fellow chip maker Nvidia Corp. NVDA, +4.25% was the third-biggest S&P 500 gainer, rising 2.1%. Among other chip makers, shares of Intel Corp. INTC, +1.58% and Applied Materials Inc. AMAT, +0.76% both rose about 0.1% and Texas Instruments Inc.'s stock TXN, +1.19% tacked on 0.6%. The S&P 500's biggest gainer was Michael Kors Holdings Ltd.'s stock kors, which rallied 2.8% after closing Friday at a 5-year low.