Forget Nvidia: This Stock Is Poised for a Potential Bull Run in 2024
Chip stocks soared over the last year, thanks to increased interest in artificial intelligence (AI). Market leader Nvidia's stock has climbed 234% since last January, as its graphics processing units (GPUs) became the go-to for AI developers worldwide.
However, competition is expected to heat up in the AI chip sector this year, which could present more attractive ways to invest in the budding market. Advanced Micro Devices (NASDAQ: AMD) is a compelling option, as it's gearing up to begin shipping its most powerful GPU ever.
Source Fool.com
Advanced Micro Devices Inc. Stock
€126.62
-6.390%
The stock is one of the favorites of our community with 88 Buy predictions and 2 Sell predictions.
With a target price of 176 € there is a positive potential of 39.0% for Advanced Micro Devices Inc. compared to the current price of 126.62 €.
