AMD Stock Is Down 15% From Its 52-Week Highs, and Here's Why You Should Buy It
Advanced Micro Devices (NASDAQ: AMD) stock price hit a 52-week high on March 8, but shares of the chipmaker have pulled back more than 15% since then, even though there has been no notable company-specific development in the interim.
Of course, reports that China is reportedly planning to replace chips made by AMD and Intel from Chinese government servers and personal computers (PCs) did weigh briefly on the stock price, but even that shouldn't be a big problem for AMD in the long run. Here's why.
AMD reportedly gets 15% of its total revenue from selling its chips to China. So, any sanctions on sales of its chips in that country may have an impact on AMD's financials. However, the dynamics of the semiconductor market are such that even if AMD is unable to sell its chips in China, it will have other avenues to sell them.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is an absolute favorite of our community with 70 Buy predictions and no Sell predictions.
With a target price of 176 € there is a slightly positive potential of 18.1% for Advanced Micro Devices Inc. compared to the current price of 149.02 €.
