AMD - Better Artificial Intelligence (AI) Stock: Advanced Micro Devices vs. Marvell Technology
2024-06-27 09:00:00 ET
Semiconductor stocks have continued to do well on the market in 2024, which is evident from the 33% gains clocked by the PHLX Semiconductor Sector index as of this writing. It is worth noting that this sector has outperformed the broader S&P 500 index's gains of 15% by quite a large margin.
However, not all semiconductor stocks have benefited from the sector's surge. Shares of Advanced Micro Devices (NASDAQ: AMD) and Marvell Technology (NASDAQ: MRVL) have recorded gains of just 9% and 19%, respectively, so far this year. They have underperformed the broader semiconductor market by a big margin even though both companies have been getting a boost from the growing demand for artificial intelligence (AI) chips.
However, a closer look at their businesses will tell us that they can witness a nice turnaround as AI adoption grows. But if you're in the market to add an AI semiconductor stock to your portfolio, which one of these two underperforming chipmakers should you be betting on? Let's find out.
For further details see:
Better Artificial Intelligence (AI) Stock: Advanced Micro Devices vs. Marvell Technology