Wall Street has grown particularly bullish over semiconductor companies Advanced Micro Devices (NASDAQ: AMD) and Nvidia (NASDAQ: NVDA) this year, with both stocks up more than 90% since Jan. 1. The rallies have primarily been fueled by a boom in artificial intelligence (AI) and expectations that chipmakers have the most to gain from the industry's development.
According to data from Grand View Research, the AI market is projected to expand at a compound annual growth rate of 37% through 2030 after hitting $137 billion last year. As a result, AMD and Nvidia still have plenty of room for growth over the long term despite their recent rallies. So it's not a bad time to consider investing in one of these tech companies before it's too late.
However, before you do, let's look at whether AMD or Nvidia is currently the better buy.
Source Fool.com