5 Best Cryptocurrency Stocks to Buy Now in 2019 - 2 of 6


 
#1 - AMD (NASDAQ:AMD)

Advanced Micro Devices logoBitcoin is mined using high-end specialized hardware packages called ASICs that perform no other function than mining Bitcoin. Creators of newer cryptocurrencies like Ethereum and Dash wanted to make it so that everyone could mine cryptocurrencies, not just centralized mining facilities with specialized hardware in parts of the world with cheap electricity. They changed their hashing algorithms so that anyone with a modern computer and graphics card, like those made by AMD and Nvidia, could mine their coins. 

AMD's Radeon graphics cards are preferred by cryptocurrency miners because they offer superior hashing performance to those produced by Nvidia. By targeting their products toward miners, they have significantly expanded their potential market size by creating products that can be sold to high-end computer gamers and to cryptocurrency miners.

There are plenty of other reasons to like the company as well. AMD's revenue is now steadily growing again after years of not being able to compete with rival Intel. Analysts keep raising their price targets on the stock and their financials are looking better quarter-by-quarter. 

About Advanced Micro Devices
Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles. The company provides x86 microprocessors for desktop PCs under the AMD Ryzen, AMD Ryzen PRO, Threadripper, AMD A-Series, AMD FX, AMD Athlon, AMD Athlon PRO, and AMD Pro A-Series processors brands; microprocessors for notebook and 2-in-1s under the AMD Ryzen processors with Radeon Vega GPUs, AMD A-Series, AMD Athlon, AMD Ryzen PRO, and AMD Pro A-Series processors brands; microprocessors for servers under the AMD EPYC and AMD Opteron brands; and chipsets under the AMD trademark. It also offers discrete GPUs for desktop and notebook PCs under the AMD Radeon graphics and AMD Embedded Radeon brands; professional graphics products under the AMD Radeon Pro and AMD FirePro graphics brands; and Radeon Instinct accelerators for servers. In addition, the company provides embedded processor solutions for interactive digital signage, casino gaming, and medical imaging under the AMD Opteron, AMD Athlon, AMD Geode, AMD Ryzen, AMD EPYC, AMD R-Series, and G-Series processors brands; and customer-specific solutions based on AMD's CPU, GPU, and multi-media technologies, as well as semi-custom SoC products. It serves original equipment and design manufacturers, datacenters, original design manufacturers, system integrators, distributors, and add-in-board manufacturers through its direct sales force, independent distributors, and sales representatives. Advanced Micro Devices, Inc. was founded in 1969 and is headquartered in Santa Clara, California.

Current Price: $31.48
Consensus Rating: Hold
Ratings Breakdown: 11 Buy Ratings, 17 Hold Ratings, 2 Sell Ratings.
Consensus Price Target: $31.5926 (0.4% Upside)



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