Wait For A Dip To Buy Advanced Micro Devices Stock
Advanced Micro Devices (NASDAQ:AMD) stock looks relatively expensive – making it an expensive pick to buy at its current price of around $93. We believe there are some minor concerns with AMD stock, which makes it relatively expensive, given that its current valuation looks high.
The generative AI wave has driven strong demand for GPUs, but AMD’s AI accelerator business has underperformed expectations. Over Q4, AMD’s data center revenue, seen as a proxy for its AI chip sales, came in at $3.9 billion, falling below consensus estimates. The outlook was also weak,…
