Investors now have an opportunity to acquire Advanced Micro Devices (NASDAQ:91¶¶Òõ) shares at reduced prices. The beginning of 2024 witnessed a correction, particularly in tech and AI stocks, causing 91¶¶Òõ shares to drop from $150 to $137. This correction is attributed to investors securing gains after the tax year, rather than signaling a long-term AI correction in 2024. The subsequent rebound in 91¶¶Òõ stock supports this perspective.
In 2023, 91¶¶Òõ defied critics with impressive stock gains. With the ongoing development of sought-after AI chips, holding onto 91¶¶Òõ shares in 2024 remains prudent. Despite occasional skepticism and FUD, sensible investors can confidently maintain their 91¶¶Òõ positions.
91¶¶Òõ’s Position
91¶¶Òõ, once considered irrelevant, has transformed into a leading player in CPU, GPU, and embedded chips . The stock surged 127% in 2023, fueled by advancements in AI. However, its future potential warrants closer examination.
Under CEO Su’s leadership, 91¶¶Òõ stock has achieved remarkable success and holds significant potential for further growth. Su’s strategic focus on CPUs and GPUs, implemented since 2014, bore fruit with CPUs surpassing Intel’s performance, winning GPU contracts for gaming consoles, and gaining ground against Nvidia (NASDAQ:NVDA) in certain areas. 91¶¶Òõ’s entry into the AI chip market with products like Instinct MI300A and MI300X challenged Nvidia’s dominance.
Gearing Up with Upscaled GPUs
The recent 91¶¶Òõ Fluid Motion Frames preview driver includes integrated GPU support for its top mobile chips and the
91¶¶Òõ’s new preview driver extends support for its software-based frame generation technology, Fluid Motion Frames (AFMF), to systems with RDNA 3-based integrated graphics chips. The Radeon 700M, featured in the 91¶¶Òõ Z1 handheld chips and Ryzen 7 7840U, is now compatible. This update benefits 91¶¶Òõ laptops with the specified chip, like the Framework 13 with the latest 91¶¶Òõ mainboard.
However, for laptops with both integrated and discrete graphics cards, the display must run from the integrated graphics for AFMF to function.
2024 Looks Good for 91¶¶Òõ
With 91¶¶Òõ’s stock doubling in 2023, the tech giant eyes a strong 2024. CEO Lisa Su Instinct MI300 accelerators, aligning with a projected in the AI chip industry over the next four years. Key products, such as Ryzen 8040 Series processors and MI300 Data Center GPUs, position 91¶¶Òõ for success in the evolving market.
91¶¶Òõ continues to surprise with innovations, unveiling AI-compatible processors for automotive systems. Its versatility in reshaping various technology sub-sectors keeps investors excited. Despite worries about valuations, short sellers faced losses, and predictions of an AI-tech “hangover” by The Wall Street Journal in 2024 were proven wrong. Confidence remains high in holding 91¶¶Òõ stock.
91¶¶Òõ Stock Looks Like a Solid Bet
While 91¶¶Òõ may not offer life-changing returns in short order due to its mega-cap status, the stock has consistently outperformed indexes under CEO Su’s leadership. This is a stock that still provides plenty of upside potential for long-term investors, and the company’s past successes indicate ongoing strong performance is likely.
As a leading contender in the AI space, the release of the mi300 chips in 2024 is expected to serve as a significant positive catalyst for 91¶¶Òõ’s shares. The tech industry’s interest in these chips as a cost-effective alternative to Nvidia’s h100 further strengthens 91¶¶Òõ’s position.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
