A 50% Upside for AMD? Here’s How Hosted by MarketBeat StaffJanuary 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 Devices4.8596 of 5 stars4.86 / 5 stars$138.32-4.4%N/A203.41NVDANVIDIA4.9379 of 5 stars4.94 / 5 stars$112.28-1.7%0.04%65.66 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. 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Hosted by MarketBeat StaffJanuary 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 Devices4.8596 of 5 stars4.86 / 5 stars$138.32-4.4%N/A203.41NVDANVIDIA4.9379 of 5 stars4.94 / 5 stars$112.28-1.7%0.04%65.66 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 More From MarketBeat625,000% GainImagine swapping your daily coffee expense for a future free of financial worries. It might seem far-fetche...Crypto Swap Profits | Sponsored7 Best Stocks to Own Right NowToday, we invite you to view our list of the seven best stocks to own for the next thirty days. Why is it w...MarketBeat“Generational Bull Run” IncomingLIVE Cash Flow Workshop Event / Hosted Virtually Weds @ 7PM EST Everyone who attends will also receive 3 sp...Unstoppable Prosperity | Sponsored7 Downgraded Stocks That Still May Be Worth a LookA key reason a stock price drops is one or more analyst downgrades. An analyst typically downgrades a stock be...MarketBeatRare signal predicts 50% market drop - before electionThe market is near all-time highs, we're told that unemployment is low, AI's a gift to humanity, and the FED w...Behind the Markets | Sponsored7 Stocks That Members of Congress Can’t Stop BuyingIn recent days, you may have heard about the trades made by Paul Pelosi, the husband of Congressional Represen...MarketBeat