Advanced Micro Devices (AMD) is on the move, as hoped.
As we noted on March 20, “The stock now sits at $97.84 – and could soon hit our $100 target.” However, it did even better than that. Thanks to Nvidia’s powerhouse earnings, shares of AMD are pushing aggressively higher.
Last checked, AMD is now up to $118.13 on the day.
While AMD is getting a bit overbought here, it could eventually see higher highs. All thanks to the explosive growth of AI. In fact, as AI revolutionizes just about every industry out there, it could create a $1.81 trillion opportunity, says Grand View Research.