Semiconductor company Advanced Micro Devices (NASDAQ: AMD) recently reported second-quarter earnings. While archrival Nvidia posted triple-digit revenue growth on AI tailwinds in recent quarters, some laggards in AMD's business have muffled its top-line performance.

However, there are signs that AMD is becoming increasingly competitive in AI, which could accelerate the company's total growth.

With shares down over 30% from their high, this could be an excellent opportunity to buy a stock with multiple growth opportunities ahead.

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Source Fool.com