Why Artificial Intelligence (AI) Stocks Super Micro Computer, Advanced Micro Devices, and Intel Rallied Today
Shares of artificial intelligence beneficiaries Super Micro Computer (NASDAQ: SMCI), Advanced Micro Devices (NASDAQ: AMD), and Intel (NASDAQ: INTC) were rallying today, up 14.9%, 2.7%, and 3.1%, respectively.
AMD was initiated with a "buy" rating at a sell-side firm today, but its move higher was likely due to the lower inflation print this morning, which lifted most stocks across the board.
Semiconductor and AI hardware stocks are thought to be highly cyclical. The prospect of easing inflation and therefore lower interest rates is especially good for these sectors, barring a recession.
Source Fool.com
Advanced Micro Devices Inc. Stock
€136.56
-3.410%
The stock is one of the favorites of our community with 88 Buy predictions and 2 Sell predictions.
With a target price of 176 € there is a positive potential of 28.88% for Advanced Micro Devices Inc. compared to the current price of 136.56 €.
