Advanced Micro Devices, Inc. (NASDAQ:AMD) is among the high growth mega cap stocks you can buy and hold for the next 3 years. During the first quarter, Advisors Capital Management LLC increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.7% through the purchase of 2,907 shares. According to the recent disclosure with the SEC, the investment advisor now owns 53,503 shares of the company’s stock, valued at $5,497,000.
The company’s planned 70% price surge for its MI350 AI chips is a testament to its position in the highly profitable AI GPU market. With the giant’s AI solutions gaining traction, Advanced Micro Devices, Inc. (NASDAQ:AMD) is in the right direction to benefit directly as AI expands into personal computers.
Despite a recent slowdown in AI chip demand and aggressive competition from Nvidia and Broadcom, Advanced Micro Devices, Inc. (NASDAQ:AMD) is moving ahead with its AI strategy and maintaining its leadership in CPUs. What’s remarkable here is that the company’s growth outlook could fuel the stock 50% to 100% over the next 12 months. Having said that, now may be the golden opportunity for investors to acquire the stock.
Advanced Micro Devices, Inc. (NASDAQ:AMD), headquartered in Santa Clara, California, is a semiconductor company operating in three segments: Data Center, Client and Gaming, and Embedded. Founded in 1969, the company is committed to driving innovation in the PC, gaming, and data center spaces.
While we acknowledge the potential of AMD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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