#2 - Advanced Micro Devices (NASDAQ:AMD)
If you consider NVIDIA to be the top chip stock, then Advanced Micro Devices Inc. (NASDAQ: AMD) may very well be 1A. The company recently launched its own high-performance GPUs which compete with NVIDIA’s H300 chips.
However, they will be superseded by NVIDIA’s Blackwell chips, which will launch in Q4 2024 and are already seeing a significant level of pre-ordering. That illustrates the speed at which things are changing in this sector. That said, AMD is pledging to increase the speed of its product release cycle to keep up with that of NVIDIA. The company’s next new product release, the MI350x, is expected to compete with the Blackwell chip and be available in the second half of 2025, which would shorten the lead time that NVIDIA currently enjoys.
Analysts remain bullish on AMD stock with several analysts reiterating their bullish rating and price target for AMD stock which has a consensus price of $195, a 24% increase.
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)
