From Nasdaq: 2024-04-09 08:57:40

Advanced Micro Devices (AMD) has seen an 84% increase in stocks after unveiling its MI300X processor for the AI chip market. Wall Street analysts project a 17% upside for investors, despite reports of order cuts. Demand for generative AI is accelerating, and AMD offers a cost-effective alternative to Nvidia’s processors.

Baird analysts maintain a positive outlook on AMD, citing strong demand and conservative revenue guidance. With a PEG ratio of less than 1, AMD is considered an undervalued growth stock. The company’s forecasted revenue for the first quarter is $5.4 billion, showing potential for growth despite flat year-over-year projections.

Investors considering AMD should note it did not make the Motley Fool’s list of the 10 best stocks to buy now. The Motley Fool’s Stock Advisor service provides guidance on portfolio building and stock picks. While AMD offers potential, other stocks may produce higher returns. AMD and Nvidia are recommended by the Motley Fool, with AMD standing out as a cost-effective option.



Read more at Nasdaq: Advanced Micro Devices Has 17% Upside, According to 1 Wall Street Analyst