Even AI Wasn't Enough to Save AMD. What Does This Mean for Nvidia?
Artificial intelligence (AI) is enjoying a resurgence of late. The potential implications illustrated by next-level chatbots like ChatGPT captured the public's imagination and sent investors scurrying to discover the next multibagger AI stock.
Among those potential beneficiaries is Advanced Micro Devices (NASDAQ: AMD), better known as AMD. The chipmaker is a player in the graphics processing unit (GPU) market, but in recent years has been increasingly chasing the cloud-computing and data-center markets and, by extension, AI.
When AMD reported its first-quarter results on Tuesday, market watchers expected the company to get a boost from AI. It may have, but it wasn't enough to make a noticeable bottom-line difference thanks to this challenging macroeconomic environment. Nvidia (NASDAQ: NVDA) is another big player in the semiconductor space and one of AMD's chief rivals. What, if anything, do AMD's results tell us about Nvidia's prospects when it reports later this month?
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 45.86% for Advanced Micro Devices Inc. compared to the current price of 119.98 €.
