3 Things About AMD That Smart Investors Know
Macroeconomic headwinds triggered a stock market sell-off in 2022 that brought shares in many of the most valuable companies crashing down, with tech stocks some of the hardest hit. Enthusiasm around the launch of OpenAI's ChatGPT last November helped change all that, reigniting excitement for the tech sector. Wall Street got bullish about the growth potential for companies with connections to artificial intelligence (AI), prompting a recovery for several stocks.
As a leading chipmaker, increased interest in AI helped send shares in Advanced Micro Devices (NASDAQ: AMD) up 63% since Jan. 1. The company is still playing catch-up to rival Nvidia (NASDAQ: NVDA), which still controls about 90% of the AI chip market. AMD wants to change that and has big plans to expand its position in 2024 with the launch of new products.
Meanwhile, AMD hasn't had the easiest year when it comes to other sectors it operates in, and it's trying to contend with steep declines in the PC market. Yet, its long-term prospects remain positive, making now an excellent time to learn more about this tech giant as a possible investment.
Source Fool.com
Advanced Micro Devices Inc. Stock
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As a result the target price of 176 € shows a slightly positive potential of 19.66% compared to the current price of 147.08 € for Advanced Micro Devices Inc..
