AMD: Ride On Another Nvidia AI Surge (Rating Upgrade)


  • Advanced Micro Devices, Inc. investors should consider riding on another beat-and-raise from Nvidia Corporation.
  • Nvidia’s strong AI read indicates more robust AI growth opportunities for AMD to capitalize upon.
  • AMD’s AI revenue guidance for 2024 is expected to be conservative, lowering its execution risks.
  • AMD stock also seems to have bottomed in early May as buyers returned.
  • I argue why it’s time for me to turn bullish on AMD, looking to capitalize on another run toward its previous highs. Read on.

AMD headquarters in Santa Clara, California, USA


AMD Can Ride On Nvidia’s Coattails

Advanced Micro Devices, Inc. (NASDAQ:AMD) investors who decided to return over the past four weeks are rocking it since AMD stock bottomed in late April/early May 2024. Nvidia Corporation’s (

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMD, MSFT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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