Advanced Micro Devices (NASDAQ: AMD) investors have been a happy lot so far this year, as shares of the chipmaker have shot up 51% year to date. This may seem a little surprising at first, given the persistent weakness in the personal computer (PC) market that has dealt a heavy blow to the company's growth.
Analysts anticipate AMD to report $23.6 billion in revenue in 2023 -- which would be flat from last year -- along with a drop in earnings. But it looks like investors are focusing on the potential gains AMD could make in a couple of lucrative areas that could help it report much better growth than what Wall Street anticipates.
Let's take a closer look at those two catalysts that could help this growth stock sustain its terrific momentum.
Source Fool.com