1 Green Flag for AMD Stock in 2023, and 1 Red Flag
Advanced Micro Devices (NASDAQ: AMD) stock managed an impressive turnaround from last year's sell-off. In 2022, its share price plunged 55% as macroeconomic headwinds caused reductions in consumer spending across the tech market. In 2023, AMD shares are up 57%, mainly driven by excitement over the company's prospects in artificial intelligence (AI).
Interest in AI has skyrocketed since the launch of OpenAI's ChatGPT last November. As graphics processing units (GPUs) are crucial to developing AI models, chipmakers like AMD have massive potential in the burgeoning industry. Consequently, it's not a bad time to add a chip stock to your portfolio and profit from the growing demand for AI hardware.
AMD is an excellent option. However, before you add this stock to your portfolio, it's a good idea to understand the positives and potential negatives of its business. So, here is one green flag and one red for AMD in 2023.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 85 Buy predictions and 2 Sell predictions.
With a target price of 175 € there is a positive potential of 44.1% for Advanced Micro Devices Inc. compared to the current price of 121.44 €.
