As a leading chipmaker, Advanced Micro Devices (NASDAQ: AMD) has become a company to watch as its hardware becomes crucial to the development of multiple high-growth industries. The semiconductor company's stock soared more than 700% in the last five years as its position strengthened across the tech industry.
For instance, AMD has consistently stolen central processing unit (CPU) market share from Intel over the years. Since 2017, Intel's CPU market share decreased from 81.9% to 62.8%. Meanwhile, AMD's has climbed from 18.1% to 35.2%. The company's growing position in CPUs boosted its presence in high-growth sectors like artificial intelligence (AI) and cloud computing.
As a result, this tech giant is an increasingly attractive investment as these industries develop. Here's why AMD's stock is a screaming buy this year.
Source Fool.com