A 50% Upside for AMD? Here’s How Hosted by Laycee KluinJanuary 23, 2024 ShareLink copied to clipboard. Play video for A 50% Upside for AMD? Here’s HowDetailsGuestsAdvanced Micro Devices NASDAQ: AMD isn’t getting the attention some stocks in the semiconductor industry are, but it should not be counted out. Multiple factors suggest a solid upside in 2024; it could top 50% by year-end. Among the factors are the rise of AI, demand for data center infrastructure, AI at the edge and normalization in end markets that has the entire industry on track for growth. The latest data from the SIA suggests semiconductor revenue growth will top 13% for the year, led by AI. The takeaway for investors is that AMD’s outlook for 2024 is sufficient to keep the stock advancing but underestimates the potential for gains. Analysts forecast a mere 17% revenue growth, solid enough on its own, but this is pale compared to the gains posted by NVIDIA NASDAQ: NVDA. NVIDIA is the leader in data centers and AI accelerators but cannot meet demand, sending its revenue up triple digits. NVIDIA’s inability to meet the demand for chips was seen clearly in Oracle’s NYSE: ORCL FQ2/CQ3 results, which fell short of consensus due to insufficient capacity and a shortfall of chips, not because of demand for its cloud-based services. That is an opportunity for AMD to gain market share that it will not let slip by. Stocks Mentioned in This EpisodeCompanyMarketRank™Current PriceDividend YieldP/E RatioAMDAdvanced Micro Devices4.3065 of 5 stars$184.42+5.4%N/A105.99NVDANVIDIA4.7261 of 5 stars$181.62-0.8%0.02%58.59 Compare These Stocks Add These Stocks to My Watchlist Chris Markoch, GuestMarketBeat Contributor, MarketBeatChris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. You may find his writing a little different than other stock articles you’ve read. And that’s OK with him. Chris doesn’t have a traditional finance background. What he does bring to the table is a strong business and marketing background having worked for agencies that serviced Fortune 500 companies. With that in mind, he isn’t overly impressed with what companies say, and more focused on what they do. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. Chris has been writing for MarketBeat since 2018.Thomas Hughes, GuestMarketBeat Contributor, MarketBeatThomas got his start with the markets while working as a Chef. In 2005 a chance invitation to attend the seminar “How To Buy And Sell Your Own Stocks” altered his worldview. Soon trading and stocks consumed his every waking moment to the point of excluding all else. Thomas now enjoys a much different lifestyle engaged in his true passion, uncovering great investments.Laycee Kluin, HostDigital Marketing Strategist, MarketBeatAs MarketBeat's Digital Marketing Strategist, Laycee helps with the marketing side of tasks including developing email campaigns, running the promotion of the MarketBeat products and exploring social media opportunities. She felt called to the Marketing industry because she enjoys collaborating with people and making connections. The University of Sioux Falls alum majored in Media Studies with minors in Communications and Spanish. Laycee brings a background in Financial Services Marketing.Previous VideoAll VideosNext Video Subscribe on YouTube Don't Miss a Video Subscribe to watch the latest stock market videos from MarketBeat. We empower investors to make better trading decisions by providing real-time financial data and objective market analysis. Subscribe on YouTube From Our PartnersHIDDEN IN THE BOOK OF GENESIS…“This land I will give to you…” — a 4,000-year-old line from Genesis may hold the key to unlocking a $150 tril...Paradigm Press | SponsoredMarket Panic: Trump Just Dropped a Bomb on Your Stockstock Market Panic: Trump Just Dropped a Bomb on Your Stocks The market is in freefall—and Trump's new tarif...American Alternative | SponsoredGet This Stock NowThis company is the lifeblood of AI data centers, yet almost no one has caught up with the story. Their hardwa...InvestorPlace | SponsoredWhen the levee breaksThe U.S. Treasury just confirmed it plans to borrow $1.01 trillion this quarter—nearly double what was project...Porter & Company | SponsoredGENIUS Act: Cancel Your Money?A new law called the GENIUS Act could quietly trigger the most radical shift in American finance in decades. B...Priority Gold | SponsoredHe Called Nvidia at $1.10. 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Hosted by Laycee KluinJanuary 23, 2024 ShareLink copied to clipboard. Play video for A 50% Upside for AMD? Here’s HowDetailsGuestsAdvanced Micro Devices NASDAQ: AMD isn’t getting the attention some stocks in the semiconductor industry are, but it should not be counted out. Multiple factors suggest a solid upside in 2024; it could top 50% by year-end. Among the factors are the rise of AI, demand for data center infrastructure, AI at the edge and normalization in end markets that has the entire industry on track for growth. The latest data from the SIA suggests semiconductor revenue growth will top 13% for the year, led by AI. The takeaway for investors is that AMD’s outlook for 2024 is sufficient to keep the stock advancing but underestimates the potential for gains. Analysts forecast a mere 17% revenue growth, solid enough on its own, but this is pale compared to the gains posted by NVIDIA NASDAQ: NVDA. NVIDIA is the leader in data centers and AI accelerators but cannot meet demand, sending its revenue up triple digits. NVIDIA’s inability to meet the demand for chips was seen clearly in Oracle’s NYSE: ORCL FQ2/CQ3 results, which fell short of consensus due to insufficient capacity and a shortfall of chips, not because of demand for its cloud-based services. That is an opportunity for AMD to gain market share that it will not let slip by. Stocks Mentioned in This EpisodeCompanyMarketRank™Current PriceDividend YieldP/E RatioAMDAdvanced Micro Devices4.3065 of 5 stars$184.42+5.4%N/A105.99NVDANVIDIA4.7261 of 5 stars$181.62-0.8%0.02%58.59 Compare These Stocks Add These Stocks to My Watchlist Chris Markoch, GuestMarketBeat Contributor, MarketBeatChris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. You may find his writing a little different than other stock articles you’ve read. And that’s OK with him. Chris doesn’t have a traditional finance background. What he does bring to the table is a strong business and marketing background having worked for agencies that serviced Fortune 500 companies. With that in mind, he isn’t overly impressed with what companies say, and more focused on what they do. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. Chris has been writing for MarketBeat since 2018.Thomas Hughes, GuestMarketBeat Contributor, MarketBeatThomas got his start with the markets while working as a Chef. In 2005 a chance invitation to attend the seminar “How To Buy And Sell Your Own Stocks” altered his worldview. Soon trading and stocks consumed his every waking moment to the point of excluding all else. Thomas now enjoys a much different lifestyle engaged in his true passion, uncovering great investments.Laycee Kluin, HostDigital Marketing Strategist, MarketBeatAs MarketBeat's Digital Marketing Strategist, Laycee helps with the marketing side of tasks including developing email campaigns, running the promotion of the MarketBeat products and exploring social media opportunities. She felt called to the Marketing industry because she enjoys collaborating with people and making connections. The University of Sioux Falls alum majored in Media Studies with minors in Communications and Spanish. Laycee brings a background in Financial Services Marketing.Previous VideoAll VideosNext Video Subscribe on YouTube Don't Miss a Video Subscribe to watch the latest stock market videos from MarketBeat. We empower investors to make better trading decisions by providing real-time financial data and objective market analysis. Subscribe on YouTube From Our PartnersHIDDEN IN THE BOOK OF GENESIS…“This land I will give to you…” — a 4,000-year-old line from Genesis may hold the key to unlocking a $150 tril...Paradigm Press | SponsoredMarket Panic: Trump Just Dropped a Bomb on Your Stockstock Market Panic: Trump Just Dropped a Bomb on Your Stocks The market is in freefall—and Trump's new tarif...American Alternative | SponsoredGet This Stock NowThis company is the lifeblood of AI data centers, yet almost no one has caught up with the story. Their hardwa...InvestorPlace | SponsoredWhen the levee breaksThe U.S. Treasury just confirmed it plans to borrow $1.01 trillion this quarter—nearly double what was project...Porter & Company | SponsoredGENIUS Act: Cancel Your Money?A new law called the GENIUS Act could quietly trigger the most radical shift in American finance in decades. B...Priority Gold | SponsoredHe Called Nvidia at $1.10. Now, He Says THIS Stock Will…The original Magnificent Seven returned 16,894%—turning $7K into $1.18 million. Now, the man who called Nvi...The Oxford Club | Sponsored
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