#5 - Advanced Micro Devices (NASDAQ:AMD)
The global chip shortage is likely to be measured in years, not months. But that doesn’t mean all semiconductor stocks will benefit equally. That being said, there are several companies that come to mind as a chip stock to benefit from inflation. But for now, I like Advanced Micro Devices (NASDAQ:AMD).
One reason I like it is that AMD stock is down about 8% for the year as of this writing. That simply seems unwarranted in the current environment. And for evidence of that you only have to look at the company’s last quarterly earnings report. At that time, AMD posted year-over-year revenue growth of over 90%. And analysts believe that will be a regular occurrence.
However, AMD stock has been a volatile stock for much of 2020. But all this really should mean is that investors should look for opportunistic pullbacks as chances to add to their position on a quality growth stock.
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)
