#5 - Advanced Micro Devices (NASDAQ:AMD)
As proof that sometimes market selloffs have a life of their own, I present Advanced Micro Devices (NASDAQ:AMD). It’s fair to say the company didn’t benefit from the work-from-home (WFH) movement as many expected. However, the company has a huge catalyst on the way as both Microsoft (NASDAQ:MSFT) and Sony (NYSE:SNE) introduce new versions of their Xbox and Playstation gaming consoles later this year.
And over the last couple of years, AMD has proved that smaller is better. It was first to market with a 7 nanometer (nm) graphics card in 2019. The company followed that up this year with its release of 7nmu CPUs. The smaller chips, as expected, are faster than the 12nm versions made by Intel (NASDAQ:INTC). However, they also consume less power. This is helping AMD capture market share in devices such as mobile phones and laptops.
And with Intel two years away from introducing its own 7nm chips, Advanced Micro Devices has a long runway for growth. Shares of AMD are down nearly 18% since September 1, creating a pullback that many analysts had been hoping for.
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)
