My Top Stock to Buy in April
Advanced Micro Devices (NASDAQ: AMD) stock dropped more than 8% on Thursday, March 31, following a downgrade by Barclays analyst Blayne Curtis, who believes that the chipmaker could be headed for a cyclical slowdown in 2023.
Curtis lowered his rating on AMD stock to "equal weight" from "overweight" and slashed the price target to $115 from $148. That's despite the analyst's estimate that the company could grow at a faster-than-expected pace this year thanks to market share gains in the client and server CPU (central processing unit) markets.
However, Barclays fears that the company's growth in 2023 is at risk on account of a potential slowdown in gaming, personal computing, and other markets where its chips are used. But Barclays' downgrade has opened an opportunity for savvy investors to buy shares of AMD, as the chipmaker's growth momentum could continue in 2023 and beyond.
Source Fool.com
