Where Will AMD Stock Be in 3 Years?
The proliferation of artificial intelligence (AI) has given many stocks a big lift in the past year, and the technology is still in its early phases and is expected to grow rapidly in the long run.
In 2024, for instance, the spending on generative AI applications is predicted to double, according to market research firm IDC. And generative AI spending is forecast to increase 86% annually through 2027. Companies that can take advantage of this could see their revenue and earnings jump.
Advanced Micro Devices (NASDAQ: AMD) is one such company that could benefit from AI's growth in multiple niches. Let's see how this technology could supercharge AMD's stock over the next three years.
Source Fool.com
Advanced Micro Devices Inc. Stock
€143.16
2.830%
The stock is one of the favorites of our community with 79 Buy predictions and 2 Sell predictions.
With a target price of 179 € there is a positive potential of 25.03% for Advanced Micro Devices Inc. compared to the current price of 143.16 €.
