Does the future hold a much more thrilling prospect than Nvidia?NASDAQ:NVDA) Killer, especially given the overwhelming dominance that Nvidia currently holds as both a chip stock and an AI stock? But that’s exactly what AMD is about (NASDAQ:AMD), but it seems that the dismounting has not progressed completely. In fact, AMD is down slightly in afternoon trading Wednesday after unveiling new chips.
The chip in question should help in the fight against Nvidia, with an “AI accelerator” called MI300 that should give AMD an additional edge in data center applications. MI300 is a powerful chip. Not only was his performance three times better, but his intake performance was also seven times better.
AMD expects MI300 to be worth more than $2 billion in 2024 alone. This sounds great until you look at some numbers recently released by AMD that suggest the value of the AI accelerator market itself will reach around $400 billion by 2027.
Frenetic sales and backbiting
Like a frenetic late-night infomercial pitch, AMD had more to show off. As part of its “Advance AI” effort, AMD also showed off some of its latest chips that make up the Ryzen 8040 series. Dubbed “…the next step in personal AI processing,” the new Ryzen chips will be available in 4-core, 6-core, and 8-core setups. However, even though AMD is introducing a variety of new chips, its competitor Intel (NASDAQ:INTC) We have developed a presentation for system integrators. According to the report, the presentation was deleted shortly after it was posted, but Intel said in the presentation that it likened AMD’s chip naming process to the “snake oil” salesmen of long ago, and that the whole thing was a series of incomprehensible “snake oil” salespeople. I presented the reason. to object.
Is AMD a buy, sell or hold?
Turning to Wall Street, analysts have a consensus rating of Strong Buy on AMD stock, based on 22 buys and 7 holds assigned over the past three months, as shown in the chart below. I have. AMD’s average price target of $126.79 per share implies an upside potential of 8.44%, after the stock has increased 66.94% over the past year.
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