Tech stocks are experiencing their most significant slump since the 2008-09 Great Recession. The current swoon has dampened enthusiasm for the sector, in part because many companies are seeing a substantial slowdown in growth.
However, the hypergrowth did not disappear for all growth tech stocks . Some companies are still expanding their operations and growing their revenue regardless of the broader macroeconomic headwinds. Investors hoping to buy a lucrative growth name now trading at a lower price might want to take a closer look at Advanced Micro Devices (NASDAQ: AMD) and Snowflake (NYSE: SNOW) . Let's find out a bit more about these two hyper-growth stocks.
Chip industry investors usually deal with cyclicality and rapid change as companies engage in a never-ending battle to gain and maintain market superiority. Yet one who has stood out in this battle is AMD. It's true that AMD and its peers have benefited from a chip shortage during the pandemic. But it's also true that the strategic vision of CEO Lisa Su that took AMD from penny-stock status to one of the more prominent companies in the semiconductor industry.
For further details see:
2 Hyper-growth Tech Stocks to Buy in 2022 and Beyond