Is It Too Late to Buy AMD Stock?
Shares of Advanced Micro Devices (NASDAQ: AMD) have been hammered on the market in 2022, losing as much as 45% of their value, but the chipmaker has given investors some relief recently thanks to the broader stock market recovery.
Major indices such as the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite eked out gains last week. Those gains extended to AMD stock, which was up 7% last week. But does this mean investors have lost an opportunity to buy shares of this fast-growing semiconductor play on the cheap? Let's find out.
AMD stock is available at an attractive valuation, even after last week's gains. Its price-to-earnings (P/E) ratio of 32 may not be cheap when compared to the Nasdaq 100's multiple of 25, but it is worth noting AMD previously traded at much higher levels, as its five-year average earnings multiple of 103 indicates.
Source Fool.com
