NVDA - AMD Stock Just Dipped. Is 2024 the Time to Invest?
2024-07-01 04:15:00 ET
Shares in Advanced Micro Devices (NASDAQ: AMD) have tumbled 11% in the last three months.
The company has been a leading recipient of the recent boom in artificial intelligence (AI), with its stock up 147% since the start of 2023. AMD enjoyed a lot of sympathy growth as its rival, Nvidia (NASDAQ: NVDA) , dominated the AI chip market. Because AMD is a leading chipmaker with the second-largest market share in graphics processing units (GPUs), Wall Street hoped it would follow in Nvidia's footsteps.
However, a mediocre earnings release alongside stellar growth from Nvidia suggests AMD could face challenges in the coming years. So, the question is whether it's worth making a long-term investment in AMD now while it's down or opting for an alternative way to gain exposure to the same markets.
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AMD Stock Just Dipped. Is 2024 the Time to Invest?