Where Will AMD Stock Be in 1 Year?
The past year has been terrible for Advanced Micro Devices (NASDAQ: AMD) investors as shares of the chipmaker have crashed 50% thanks to multiple headwinds that include the broader stock market sell-off owing to a hawkish Federal Reserve, slowing semiconductor demand, and concerns that the economy may be headed for a recession in 2023. However, Wall Street is optimistic about the stock's direction over the coming year.
AMD stock carries a price target of $87.50 for the next 12 months as per a consensus estimate of 38 analysts. That points toward a 28% jump in AMD's stock over the next year, but will the chipmaker be able to live up to Wall Street's expectations and soar? Or will the semiconductor market's weakness catch up with AMD and send the stock lower? Let's try to find out.
According to the guidance AMD issued in November 2022, the company's 2022 revenue is expected to increase 43% for the year to $23.5 billion. However, the company's growth is expected to slow down remarkably in 2023, with revenue expected to increase only 6%.
Source Fool.com
