Could AMD Become the Next Nvidia?
There are a lot of similarities between Advanced Micro Devices (NASDAQ: AMD) and Nvidia (NASDAQ: NVDA), two semiconductor companies that have set the stock market on fire in 2023 with gains of 85% and 192%, respectively.
Both companies make chips that are used in personal computers (PCs), gaming consoles, and data centers. However, Nvidia has pulled significantly ahead of AMD of late even though both companies are facing the same headwinds. For example, AMD now has a market cap of $193 billion, while Nvidia is now a $1 trillion company.
The weakness in the PC market has led to a sharp decline in the revenue and earnings of AMD and Nvidia in recent quarters, but the latter has put that headwind in the rearview mirror thanks to the strength of the data center business.
Source Fool.com
Advanced Micro Devices Inc. Stock
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