Why AMD Stock Could Soar Higher in 2024
Chipmakers have attracted countless investors over the last year as a boom in artificial intelligence (AI) has sent demand for graphics processing units (GPUs) skyrocketing.
Nvidia has stolen much of the spotlight, with its shares up 200% year over year. However, chip companies at earlier stages in their ventures into AI could have more room to run. This is part of why Advanced Micro Devices (NASDAQ: AMD) is an attractive investment option in the space.
In 2023, Nvidia became the first chipmaker to exceed a market cap of $1 trillion. AMD still has a long way to go before coming anywhere close to that figure, with its market cap at $286 billion. However, that could mean it has far more growth potential over the long term.
Source Fool.com
Advanced Micro Devices Inc. Stock
€127.58
-4.440%
With 81 Buy predictions and 2 Sell predictions Advanced Micro Devices Inc. is one of the favorites of our community.
As a result the target price of 176 € shows a positive potential of 37.95% compared to the current price of 127.58 € for Advanced Micro Devices Inc..
