Published on 30 May 2024 on Insider Monkey via Yahoo Finance
Is Advanced Micro Devices, Inc. (AMD) a Better Buy Over NVIDIA (NVDA)?
We recently published a list of top 10 most buzzing AI semiconductor stocks in 2024. Since AMD ranks higher in the list, it needs a deeper look. But first, let's see what's happening in the semiconductor industry with a special focus on AI.
The semiconductor industry seems have found a new growth catalyst in the form of AI that could keep it thriving and abuzz for years to come, as analysts see no end in sight for the demand for AI-specific chips needed to power generative AI applications that would be ubiquitous from just a few years from now. Earlier this month, analysts at Citi published a bullish note for semiconductor stocks, citing strong March sales, which jumped about 15.7% year over year to total $50.6 billion. The figure was higher than Citi's $50.1 billion estimate. Citi analyst Christopher Danely highlighted that most of the demand bump came from analog and microcontrollers, which were up about 50% on a month-over-month basis.