AMD Stock Just Dipped. Is 2024 the Time to Invest?
Shares in Advanced Micro Devices (NASDAQ: AMD) have tumbled 11% in the last three months.
The company has been a leading recipient of the recent boom in artificial intelligence (AI), with its stock up 147% since the start of 2023. AMD enjoyed a lot of sympathy growth as its rival, Nvidia (NASDAQ: NVDA), dominated the AI chip market. Because AMD is a leading chipmaker with the second-largest market share in graphics processing units (GPUs), Wall Street hoped it would follow in Nvidia's footsteps.
However, a mediocre earnings release alongside stellar growth from Nvidia suggests AMD could face challenges in the coming years. So, the question is whether it's worth making a long-term investment in AMD now while it's down or opting for an alternative way to gain exposure to the same markets.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 79 Buy predictions and 2 Sell predictions.
With a target price of 179 € there is a positive potential of 25.03% for Advanced Micro Devices Inc. compared to the current price of 143.16 €.
