Investing in Advanced Micro Devices: A 4-Week Performance Review
AMD Stock Performance Over 4 Weeks
In the past month, Advanced Micro Devices (AMD) has demonstrated a strong upward trend, with its stock price rising from $138.15 to $172.35, marking a significant 24.76% increase.
If you had invested $1,000 in AMD shares one month ago, your investment would now be worth $1,247.56.
The Competition: AMD Vs. Nvidia
While AMD has shown impressive growth, it has been overshadowed by its competitor, Nvidia (NVDA). For instance, an investment of $1,000 in NVDA since the start of 2024 would have yielded a return of $2,591.03 by the same time.
Despite AMD's recent surge, it’s crucial to recognize the challenges the company faced during earlier turbulent periods in the stock market.
The Potential Ahead with AMD
The upcoming ‘Advancing AI’ event on October 10 may provide a boost for AMD, historically correlating with gains. However, it coincides with Tesla’s ‘Robotaxi’ presentation, which may draw attention away.
- AMD's role in the AI boom remains significant.
- With recent upgrades appealing to gamers, AMD is building valuable customer relationships.
- Analyst consensus offers optimism, showing 46 out of 55 experts rate it as a ‘strong buy’.
Future Outlook
- The 12-month price target for AMD anticipates a 9.91% increase, reaching $187.83.
- Optimistic forecasts suggest an upside to $250.
- Nonetheless, some predictions also indicate a drop to $140 might occur.
Investors should weigh both AMD's potential and the competitive landscape carefully as they contemplate future investments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.