Forget AMD in 2024: 2 Artificial Intelligence (AI) Stocks to Buy Instead
Over the last year, increased interest in artificial intelligence (AI) has spotlighted several tech stocks that could enjoy major gains as the industry develops. Chipmaker Advanced Micro Devices (NASDAQ: AMD) has seen its stock soar 150% since the start of 2023, driven primarily by investors' excitement over AI. AMD's second-largest market share in graphics processing units (GPUs) has made Wall Street bullish as similar offerings from Nvidia have flown off the shelves amid the increased demand for the high-powered chips.
However, mediocre quarterly results, alongside a soaring share price, have tanked the value of AMD's stock. The company's business hasn't seen a big enough return on its investment in AI, suggesting there could be better options for backing the high-growth industry.
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 €.
