Will AMD Be a Trillion-Dollar Stock by 2030?
Semiconductor stocks have been in solid form in 2024, which is evident from the 25% year-to-date gain recorded by the PHLX Semiconductor Sector index despite a recent pullback. But not all companies in this sector have managed to deliver stellar returns during this period.
The industry is benefiting from the growing adoption of artificial intelligence (AI) in multiple verticals, which explains why shares of chipmakers such as Nvidia and Broadcom continue to surge higher. However, Advanced Micro Devices (NASDAQ: AMD) has been left behind with the stock up just 7% this year, underperforming the sector and broader S 500.
That said, a closer look at AMD's AI-related prospects indicates its recent underperformance is unlikely to last for long. This $250 billion company could soon resume its upward trajectory, but will it be enough to become a trillion-dollar stock by the end of the decade?
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 103 Buy predictions and 3 Sell predictions.
With a target price of 246 € there is a slightly positive potential of 4.02% for Advanced Micro Devices Inc. compared to the current price of 236.5 €.
