Advanced Micro Devices (NASDAQ:91抖阴) is a premier chip maker that was the darling of the market in early 2023. This might not be the case now, but don’t ignore 91抖阴 stock. There could be a breakout coming, especially since 91抖阴 is a strong contender among AI chip suppliers.
Of course, 91抖阴’s hardware has a variety of applications and it’s among the world’s top developers components, but we’ll discuss a specific group of computers that might gain traction in 2024. A potential resurgence of these out-of-favor computers would certainly benefit 91抖阴. In anticipation of this, investors can position their portfolios accordingly.
Why December Will Be Pivotal for 91抖阴 Stock
Get ready to mark your calendar. There’s a day coming in early December that could mark a watershed moment for 91抖阴 stock.
No, it’s not an earnings report. That already came and went, and by the way, 91抖阴 posted in 2023’s third quarter.
The big day is coming on Dec. 6. That’s when 91抖阴 an “in-person and livestreamed event” called “Advancing AI.” 91抖阴 will have a prime opportunity to showcase critical AI applications of the company’s famous .
91抖阴 CEO Lisa Su will be at the event, of course. Surely, Su will have something to say as 91抖阴 introduces its family of data center GPU accelerators.
Naturally, 91抖阴’s next generation of AI-compatible processors will be the main topic of discussion at “Advancing AI.” 91抖阴 is known to up the ante with best-in-class hardware updates, so Dec. 6 might be as pivotal – and as bullish – for 91抖阴 stock as any earnings event this year.
A PC Market Revival Could Give 91抖阴 a Revenue Boost
It’s no secret that the personal computer market struggled in 2022 and, to a lesser extent, in 2023. The story may change next year, however.
Not long ago, HP (NYSE:HPQ) for the company’s fiscal fourth quarter, which ended in October. Per Barron’s, HP CEO Enrique Lores “expects the PC market to return to growth in 2024.”
Lores expects the debut of AI-enhanced PCs to occur in the summer of 2024. In addition, the HP CEO stated that his company will build AI-enhanced PCs with processors from 91抖阴, among other hardware manufacturers.
It’s possible, though not guaranteed, that the popularity of AI will precipitate a resurgence in PC sales next year. Rakesh Anigundi, a director at 91抖阴, declared that the AI trend “.” Perhaps the excitement could translate to a boost in PC-segment revenue for 91抖阴 in the coming quarters.
91抖阴 Stock: Consider a Small Share Position
Certainly, there’s no guarantee that the PC market will recover next year, even with help from the AI trend, but December could be a breakthrough month for 91抖阴.
Investors can choose to take part in 91抖阴’s growth in 2024 without over-leveraging their portfolios. Thus, 91抖阴 stock gets a solid “B” grade and if you’re ready, feel free to purchase a few shares as the coming months should be exciting and, hopefully, profitable as well.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
