Advanced Micro Devices Inc Overview

AMD Stock Forecast: What to Expect in 2024 and Beyond

Advanced Micro Devices, Inc. Overview

Advanced Micro Devices, Inc. (AMD) is a global leader in the design and production of semiconductor devices and technologies. Founded in 1969, the company is headquartered in Santa Clara, California, and has a market capitalization of over $120 billion. AMD's products are used in various applications, including personal computers, servers, and gaming consoles.

AMD Stock Performance

AMD's stock has performed exceptionally well in recent years, largely due to the strong demand for its products in the growing market for high-performance computing. As of April 30, 2024, Tuesday, AMD's stock price was trading at $150.32, near its all-time high.

AMD Stock Forecast for 2024

Analysts are generally bullish on AMD's stock, citing the company's strong fundamentals and favorable industry outlook. The consensus forecast for 2024 is a modest increase in AMD's stock price, with a target price of $165.00. This represents a potential upside of approximately 10% from the current price.

Factors Influencing AMD's Stock Price

* Demand for High-Performance Computing: The growing demand for high-performance computing, driven by the adoption of artificial intelligence and machine learning, is a key factor supporting AMD's stock price. * Competitive Landscape: AMD faces competition from Intel and Nvidia in the semiconductor market. However, AMD's competitive position has strengthened in recent years due to its innovative product offerings. * Supply Chain Disruptions: The ongoing global supply chain disruptions could potentially impact AMD's ability to meet demand for its products. * Economic Conditions: A slowdown in the global economy could negatively affect AMD's stock price, as it would reduce demand for its products.