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Why AMD Stock Could Double Once Again in 2021

TheMotleyFool

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Why AMD Stock Could Double Once Again in 2021

Advanced Micro Devices (NASDAQ: AMD) stock almost doubled in 2020. Market share gains against Intel (NASDAQ: INTC) in the CPU (central processing unit) space and strong sales of gaming hardware in the wake of the novel coronavirus pandemic helped the chipmaker record impressive top- and bottom-line growth throughout the year, and investors laughed all the way to the bank as a result.

But don't be surprised to see AMD replicate its performance in 2021, as the catalysts that drove its growth in 2020 are here to stay. Let's take a look at the key factors that could help AMD stock double once again this year.