Riding The AI Wave: Upcoming AMD Artificial Intelligence Event Fuels Investor Excitement After 95% Surge
AI and tech enthusiasts worldwide are eagerly awaiting Tuesday morning, June 13, at 10:00 a.m. PT, when Advanced Micro Devices Inc. AMD will host its "AMD Data Center and AI Technology Premiere." This event, available both in-person and via livestream, will serve as a platform for AMD to exhibit its aggressive growth strategy and expanding product portfolio, particularly in the data center and AI industries.
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What are the businesses that AMD is targeting with the new chip?
As the curtain lifts, AMD's acclaimed Chair and CEO, Dr. Lisa Su, will take the stage alongside other top-tier executives as well as important customers. They will share interesting insights about new technologies and explore the incredible progress made in data center solutions, AI breakthroughs, adaptive computing, and high-performance computing. The spotlight will also shine on AMD's plans for market expansion, especially following the recent acquisitions of Xilinx and Pensando Systems.
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What are the other applications that the chip could be used for?
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What are the predictions for AMD's stock price after the release of the new chip?
AMD Has Already Risen 95% In 2023: Are Further Gains Ahead Sustainable?
The upcoming event holds immense significance for AMD, as it represents a pivotal moment for the chipmaker. Powered by the AI-driven market rally, AMD's stock has experienced a remarkable 95% year-to-date increase.
The upcoming event is significant for AMD, signifying a turning point in the company's history. Powered by the AI-driven market rally, AMD's stock has experienced a remarkable 95% year-to-date increase.
This positions AMD as the fourth highest-performing company of the S&P 500 index, tracked by the SPDR S&P 500 ETF Trust SPY, thus far this year. Only NVIDIA Corp. NVDA, Meta Platforms Inc. META, and Tesla Inc. TSLA have risen more than AMD in 2023.
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Who are the potential competitors for AMD's chip?
In addition, AMD recently surpassed $200 billion in market capitalization, an all-time high for the company. It solidified its position as the 31st most valuable stock on the U.S. market.
The company's strong gains in just over six months this year have more than exceeded the Street's expectations. AMD's current share price ($128) trades at 18% higher than the median analyst price estimate ($103). AMD is the second most expensive S&P 500's company based on the difference between the current share price and the consensus price objective.
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