Well-Positioned to Continue Taking Market Share.
$Advanced Micro Devices(AMD.US$ $Intel(INTC.US$ Despite AMD taking meaningful market share away from rivals in Intel , its stock has been unable to steer clear of industry headwinds. Undoubtedly, there’s no way for AMD CEO Lisa Su to control macro issues. The PC market has slowed down, and macro headwinds could weigh down the stock further. Recession or not, though, AMD is well-positioned to continue taking share and building upon its lead, making AMD stock an intriguing pick-up amid the tech slump.
In simple terms, AMD is firing on all cylinders, doing many things right amid unprecedented headwinds. The company’s latest quarterly results were solid. Still, the company erred on the side of caution, with a more downbeat tone for its coming third quarter. Regardless, AMD is sticking with its original full-year guidance of 60% revenue growth.
As the company continues doing its best to navigate through challenges, there’s a real chance the firm can make strides over its rivals.
Intel is a top rival that’s really felt the pressure dealt by AMD. The company missed the mark in its latest quarter by a landslide, sparking a vicious sell-off. As AMD looks to raise the bar with its latest generation of Ryzen 7000 Series Zen 4 processors, I’d look for AMD to build its lead over Intel on the market cap front. Indeed, AMD has come a long way, and it’s not finished.
I remain incredibly bullish on AMD stock and think the looming recession is just a steep pothole in the road.
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