#1 - Advanced Micro Devices (NASDAQ:AMD)
If you only looked at NVIDIA Corp. (NASDAQ: NVDA), you would think it’s been a great year for semiconductor stocks (i.e. chip stocks). But if you look at one of the largest sector exchange-traded funds, the iShares Semiconductor ETF (NASDAQ: SOXX), you get a different story. The SOXX fund has underperformed the market in 2024 with a gain of approximately 11%.
And a stock like Advanced Micro Devices Inc. (NASDAQ: AMD) has been even more of a laggard. AMD stock is down more than 11% in 2024 as of December 12.
However, analysts are projecting a recovery in chip stocks in 2025. Demand for the chips that power artificial intelligence (AI) applications will continue, and several companies are looking at AMD as an alternative to NVIDIA’s solutions.
Analysts are forecasting a strong recovery for AMD stock, with a consensus price target of $192.36. This gives the stock a 48% upside, about 17% higher than if the company hits the midpoint of its fourth-quarter guidance at its current valuation.
About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.
Read More - Current Price
- $116.04
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $185.22 (59.6% Upside)
