Last year was not easy for investors, with a sell-off highlighting the importance of holding stocks for the long term, no matter the market conditions.
For instance, shares of Advanced Micro Devices (NASDAQ: AMD) plunged 55% throughout 2022 amid PC market declines. Yet Wall Street has boosted the stock by 43% in 2023, growing bullish over the company's participation in high-growth industries like data centers and artificial intelligence (AI). As a result, those who sold last year will not have benefited from AMD's recent rally.
The company has a long history of rewarding patient investors with substantial growth, and its stock is up 824% in the last five years. It stumbled last year, but AMD's long-term outlook remains positive. Here's why the stock is a buy right now.
Source Fool.com