This is Why AMD is Still a Strong Buy Heading into 2024

Illustration shows AMD logo

As we noted on Oct. 31, “Advanced Micro Devices is a strong buy.”

Still is, in our opinion.

Granted, guidance was soft in its last earnings report.

However, “AMD is one of the few chipmakers capable of making the kind of high-end graphics processing units (GPUs) needed to train and deploy generative artificial intelligence models,” as noted by CNBC. Plus, it did have a solid forecast when it came to artificial intelligence.

Taking advantage of the weakness at $98.50 at the time, we watched AMD rocket to $121.53 as of yesterday. From here, we’d like to see AMD closer to $150 a share.

Helping, analysts at Roth MKM initiated a buy rating on the AMD stock with a price target of $125. “AMD’s differentiated portfolio of high-performance compute and networking processors and accelerators represents a strong investment opportunity,” said the analysts as quoted by

“AMD is well-positioned from a product portfolio perspective to address the growing data center infrastructure market, and the firm’s checks indicate that AMD is poised to gain further share in the cloud server market and is making further inroads in the enterprise market.”

AMD last traded at $121.53.