Prediction: AMD's Stock Could Soar on Nov. 4
Nvidia (NASDAQ: NVDA) has widely been regarded as the best artificial intelligence investment opportunity in the AI arms race. However, recent events have caused Advanced Micro Devices (NASDAQ: AMD) to gain traction in this area. The hype around AMD's business started when it announced a deal with OpenAI to provide 6 gigawatts of computing power through a deal where OpenAI invested in AMD as the computing power is delivered.
While this deal is important for AMD, what it really signaled was that a leading generative AI company plans on using AMD's hardware. That's a big deal, as AMD's technology has always been seen as a downgrade from Nvidia. This could be setting the stock up for another huge movement on Nov. 4, when it reports Q3 earnings, as AMD may unveil a huge order backlog that popped up following its OpenAI deal.
The burning question remains: Should you buy AMD stock right now? Or wait until after Nov. 4?
Source Fool.com
Advanced Micro Devices Inc. Aktie
Die Community bevorzugt Advanced Micro Devices Inc., mit deutlich mehr Buy- (105) als Sell-Einschätzungen (4).
Eine erhebliche Steigerung um mehr als 20% ist für Advanced Micro Devices Inc. mit einem Kursziel von 523 € im Vergleich zum aktuellen Kurs von 416.3 € zu erwarten.
