A Massive Opportunity Is Hiding in Plain Sight for This Magnificent Artificial Intelligence (AI) Stock
Artificial intelligence (AI) has supercharged semiconductor stocks in 2023, which is not surprising as the proliferation of this technology opened up a whole new revenue opportunity for companies that produce them.
After all, the AI chip market is anticipated to generate an eye-popping $304 billion in annual revenue in 2030, according to Next Move Strategy Consulting. That's going to be a big jump over last year's revenue of just less than $29 billion.
Advanced Micro Devices (NASDAQ: AMD) has started scratching the surface of the AI chip opportunity. The company said on its latest earnings conference call that it expects AI chips to contribute $400 million in revenue in the current quarter. In 2024, AMD is currently anticipating $2 billion in AI-fueled revenue.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 93 Buy predictions and 2 Sell predictions.
With a target price of 175 € there is a slightly positive potential of 15.59% for Advanced Micro Devices Inc. compared to the current price of 151.4 €.
