Forget the Sell-Off -- Wall Street Wants You to Buy AMD Stock

Advanced Micro Devices (NASDAQ: AMD) stock has headed south in 2021, as investors seem to be concerned about the stiff competition the chipmaker may face from rivals Intel (NASDAQ: INTC) and NVIDIA (NASDAQ: NVDA). But Wall Street analysts believe that the sell-off isn't justified.

Analysts from Raymond James and Bank of America have an outperform rating on AMD stock with a price target of $100. Both firms have reminded investors that the chipmaker will continue to hold a competitive edge over Intel for the next few years. AMD has been eating into Intel's market share in 2021 thanks to its technological superiority, and the situation is unlikely to change anytime soon.

Here's why you should consider taking Wall Street's advice and go long on AMD stock.

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Source Fool.com