Why AMD Stock Is A Gift At $138 (Technical Analysis)

Summary:

• Advanced Micro Devices, Inc. is undervalued at $138, with significant profit growth potential, especially in the booming data center segment.
• AMD’s data center sales surged 122% YoY in Q3, driven by the MI300 accelerator, positioning it as a strong competitor to Nvidia Corporation.
• Despite short-term technical challenges, AMD’s fundamentals are robust, with expected profit growth of 54% in 2024, making it a compelling investment.
• Nvidia’s supply constraints offer AMD a springboard opportunity to capitalize on its data center GPU market, enhancing its long-term growth prospects.

The stock price development of Advanced Micro Devices, Inc. (NASDAQ:AMD) has been disappointing, with the chip company lagging substantially behind Nvidia Corporation (NVDA), the clear leader in the market for data center GPUs.

Advanced Micro Devices has recently

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