Tech Sell-Off: Down 23%, This Beaten-Down Stock Is a Terrific Buy Right Now
Share prices of Advanced Micro Devices (NASDAQ: AMD) have dropped off a cliff in the first month of the new year, losing 23% of their value so far as investors have pressed the panic button amid a broader sell-off in tech stocks.
AMD's predicament results from rising inflation, as well as the possibility of as many as four interest rate hikes by the Federal Reserve in 2022. That has led investors to shift money away from richly valued, high-risk companies to safer assets such as bonds. However, AMD stock's correction presents a great opportunity for investors to add a potential long-term winner to their portfolios on the cheap, especially considering that it is likely deliver a solid set of earnings results on Feb. 1.
Let's see why AMD could crush expectations and regain investor confidence with its fourth-quarter earnings report release on Tuesday.
Source Fool.com
