2024-06-20 11:04:53 ET
Summary
- Nvidia Corporation recently surpassed all companies in market valuation, with Advanced Micro Devices, Inc.'s performance lagging, but it is likely to catch up in the second half of 2024.
- AMD's competitive edge in PC chips, A.I. chips, and cryptocurrency mining positions it well for future growth.
- AMD's upcoming quarterly earnings report on August 6th could serve as a catalyst for a potential spike in stock price, with it trading just above support in the mid $140s.
I came up with the phrase " the Chippening " back in August 2020 to describe the change of the guard occurring in the semiconductor sector. At that point, two milestones occurred: (1) Nvidia Corporation ( NVDA ) achieved a market valuation greater than Intel Corporation ( INTC ), and (2) Intel was forced to restructure, largely due to its inability to produce a 7nm product and keep up with Advanced Micro Devices, Inc. ( AMD ). As we approach the 4-year anniversary of the dawn of the Chippening, we are clearly entering a new phase, where Nvidia has now achieved the highest valuation of any publicly traded company within the domestic markets, and not merely the semiconductor industry. While AMD has substantially lagged NVDA's performance, it appears increasingly likely that AMD will be re-evaluated significantly higher in the second half of 2024....
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AMD Stock Is Set Up For Another Spike