Advanced Micro Devices (NASDAQ: AMD) shares were on fire in 2020 and 2021. An investment of $10,000 made in AMD stock on Jan. 1, 2020, would have grown in value to $31,380 by Jan. 1, 2022. The red-hot PC market (driven in part by the COVID-19 pandemic) pushed AMD's annual revenues from $6.7 billion to $16.4 billion in only 24 months.
Then came 2022. AMD shares are down 49% year to date as the PC market cooled. So, is AMD getting ready for another surge, or are its best days behind it? Let's take a closer look and see what the market might be missing when it comes to this semiconductor powerhouse.
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Source Fool.com