#2 - Advanced Micro Devices (NASDAQ:AMD)
Heading into March 2024, Advanced Micro Devices Inc. (NASDAQ: AMD) appeared to be catching up with its high-flying competitor, NVIDIA. Since then, it’s been more of a struggle for AMD stock, which has been down over 20% in the three months ending June 12, 2024.
Analysts and investors are concerned that AMD may be unable to catch up to NVIDIA's lead in the data center market. However, with so many companies looking for alternatives to NVIDIA, counting AMD out of that market may not be wise. To that end, the company spent approximately 26% on research and development in AI in 2023, and is promising that number will go up as demand for AI continues.
The company has much more market share in the central processing unit (CPU) and graphic processing unit (GPU) markets. Both markets are expected to have a refresh cycle that will stir demand for AMD products.
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
- $119.21
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 27 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $191.96 (61.0% Upside)
