#1 - Advanced Micro Devices (NASDAQ:AMD)
Advanced Micro Devices Inc. (NASDAQ: AMD) is widely seen as the strongest competitor to NVIDIA Corp. (NASDAQ: NVDA) in the coming years. The company is ready to launch its high-performance chip that can compete with NVIDIA’s Hopper platform.
The window to capture market share is small as NVIDIA is already planning to deliver some of its Blackwell chips in the fourth quarter. However, NVIDIA and AMD make up a doupoly in the data center market. And while critics will note that NVIDIA commands about 90% of that market, AMD is the only other significant player in this space. That says nothing of the company’s position in the still-growing gaming category.
Some investors will argue that NVIDIA will be a better choice in the chip sector. I won’t try to dissuade that opinion. But if you feel that NVIDIA may be a little overvalued, AMD stock offers a good option. Analysts are forecasting an impressive 70.7% earnings growth in the next 12 months. And the analysts’ consensus price target of $195 is 23% higher than its price on October 17, 2024.
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
- $156.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 29 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $195.00 (24.8% Upside)
