Is It Time to Dump Nvidia Stock for Advanced Micro Devices After Microsoft Announcement?
Microsoft recently announced that it would offer its cloud computing customers the option of using MI300X artificial intelligence (AI) chips made by Advanced Micro Devices (NASDAQ: AMD). Microsoft will offer clusters of MI300X chips through its Azure cloud computing service as an alternative to Nvidia's (NASDAQ: NVDA) H100 graphic processing units (GPUs).
Given this announcement, is it time to dump Nvidia stock in favor of AMD?
The simple answer is no. Expanding on that answer, it might be a good time to buy both stocks -- and another beneficiary as well.
Source Fool.com
Advanced Micro Devices Inc. Stock
€151.40
1.810%
The stock is one of the favorites of our community with 93 Buy predictions and 2 Sell predictions.
With a target price of 175 € there is a slightly positive potential of 15.59% for Advanced Micro Devices Inc. compared to the current price of 151.4 €.
