Summary: Analysts recommend buying AMD and Micron Technology stocks over Nvidia due to AI industry growth.

From Nasdaq: 2024-05-23 05:40:00

Nvidia is now the world’s third-largest company due to a 200% stock increase and $2.35 trillion market cap. Analysts are bullish on Advanced Micro Devices (AMD) and Micron Technology (MU) as they play a crucial role in the AI industry, offering exciting investment opportunities.

AMD is gaining ground in the AI industry by shipping its MI300 lineup of data center chips, winning over key customers like Microsoft and Meta Platforms. The company expects to sell $4 billion worth of GPUs in 2024, benefiting from AI’s shift to personal computers and devices. Analysts are overwhelmingly bullish on AMD stock, predicting strong long-term growth.

Micron Technology, known for its memory and storage chips, is seeing high demand for its HBM3E, thanks to its power-saving features. Micron’s high-bandwidth memory is already sold out for 2024, reflecting the increasing importance of memory and storage chips in the AI industry. Analysts see Micron as a buy, indicating strong future prospects for the company.

Investors interested in AI-driven stocks should consider companies like Nvidia, AMD, and Micron as they play key roles in the industry’s growth. These companies are positioned for long-term success in the AI market, making them solid investment options for those looking to capitalize on the AI revolution.



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