Could AMD Stock Help You Become a Millionaire?
Advanced Micro Devices (NASDAQ: AMD) has become a favorite on Wall Street over the last year alongside a boom in artificial intelligence (AI). Hardware companies have enjoyed substantially more growth than those focused on software, with chipmakers responsible for a significant portion of the Nasdaq-100 technology sector's 43% rise since last April.
However, chip stocks like AMD remain a smart long-term hold. These companies are developing the hardware that makes most tech possible, with demand likely to continue rising for the foreseeable future. AI is only one market requiring high-powered chips, with AMD also benefiting from chip demand from video games, automotive, cloud computing, and more.
AMD has made many millionaires over the years, with its shares up 3,500% since 2014. However, the company is on a promising growth path, continuing to benefit from tailwinds across tech.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 80 Buy predictions and 1 Sell predictions.
With a target price of 176 € there is a positive potential of 23.08% for Advanced Micro Devices Inc. compared to the current price of 143.0 €.
