From Nasdaq:



2023 was an exciting year for technology investors, with Advanced Micro Devices (AMD) benefitting from the trend of interest in generative artificial intelligence (AI). Going into 2024, AMD is on track to prove itself worthy of the recent bull run. Three reasons to consider AMD shares as a long-term buy are: new AI chips that could boost growth, recovery in legacy businesses, and the possibility of the shares being a cheaper alternative to Nvidia. AMD’s new AI chips, the MI300 family, could help the company capture a slice of the fast-growing AI chip market. The company also saw a sharp recovery in the client segment related to PC and laptop chips, which has stabilized its bottom line. Additionally, AMD may be a cheaper alternative to Nvidia based on backward-looking metrics. While Nvidia remains a major competitor, AMD has the potential to exceed analyst expectations with its new AI chips, making it an under-the-radar way to bet on this fast-growing market in 2024 and beyond.



Original: 3 Reasons to Buy AMD Stock in 2024