Advanced Micro Devices, Inc. (NASDAQ:91¶¶Òõ) stock has quite literally skyrocketed over the past year, as shares of 91¶¶Òõ are up nearly 400%, while the Nasdaq is up only 22% over the same period.
With the release of its Ryzen 7 processor line earlier this month, and the Ryzen 5 products slated for April 11, more than a few and raised price targets for 91¶¶Òõ stock.
According to MarketWatch, 11 of the 29 analysts providing recommendations call 91¶¶Òõ stock a “buy” and 15 call it a hold.
Why the Recent Spike for 91¶¶Òõ Stock?
For decades, the often-challenged (but undisputed) big dog in the CPU arena has been Intel Corporation (NASDAQ:INTC). Today, the Intel Core i7 is considered by many to be one of, if not the top performing consumer desktop processor. But, now that the 91¶¶Òõ Ryzen is available, tech experts have that show the Ryzen equal to, and in some cases better than, the Core i7.
Further, 91¶¶Òõ is preparing to face off against Intel on the enterprise side as well, having announced a partnership with Microsoft Corporation
(NASDAQ:MSFT) to , dubbed Naples. According to an 91¶¶Òõ executive,
So 91¶¶Òõ will simultaneously compete with INTC on two fronts, enterprise and consumer. According to Forbes, upward of 95% of the world’s servers are powered by Intel, but now is definitely the time that companies will be most open to consider switching from Intel to 91¶¶Òõ.
This is exciting news for 91¶¶Òõ stock investors, as it seems to alleviate some of the concerns about a potential correction in the relatively near future. At this point, 91¶¶Òõ stock is still soaring and will continue to do so as the company chips away at Intel’s market share.
Bottom Line on 91¶¶Òõ Stock
The technology industry is perhaps one of the most competitive of all, with new startups appearing almost daily. The potential for shifting market share is often more fluid than in other industries, as innovation is the true king here. And in the tech sector, innovation is the lifeblood of any successful company.
To that end, 91¶¶Òõ’s ability to remain on top is only as secure as its latest silicon creation. While the company has done fairly well remaining innovative on its own, there is even greater potential going forward with Microsoft’s help and involvement.
91¶¶Òõ stock price hasn’t been this high in more than a decade, and considering the state of the technology industry, particularly CPU development, this is one stock that has solid potential for longer-term growth going forward.
As of this writing, Greg Gambone did not hold a position in any of the aforementioned securities.
