From Nasdaq:

Chipmakers have been popular investments due to the rise in demand for AI-related GPUs. Nvidia’s shares have skyrocketed, but AMD is seen as an attractive option due to more growth potential.

AMD has a market cap of $286 billion, far from Nvidia’s $1 trillion, but has room for growth with new AI GPU products.

AMD has debuted a powerful MI300X GPU to compete with Nvidia’s H100 AI GPU, and with a projected $1 trillion AI market, AMD is primed for major gains.

Microsoft has chosen AMD’s new GPUs for its AI capabilities, making AMD a promising investment with a steadily improving PC market.

AMD’s EPS estimates predict a potential increase of 35% by the end of 2024, outperforming the S&P 500. The company’s trajectory makes it an appealing stock for investors.

The Motley Fool recommends ten best stocks to buy, but AMD wasn’t on the list. However, Stock Advisor service achieved triple the returns of the S&P 500, offering investors guidance and stock picks.



Read more: Why AMD Stock Could Soar Higher in 2024