The stock market is never an easy thing for investors to predict. It can be volatile and unpredictable, leaving investors guessing which way the stock value will move. AMD has been one of the strong performers over the past year, and many analysts forecasting that the stock could soar even higher in the near future.
AMD (Advanced Micro Devices) is a semiconductor manufacturer, best known for its large range of computer processors. This company has a large presence in the computing, gaming, and entertainment industries. It provides a range of products and services, spanning from consumer and professional product lines to cloud-based solutions.
In the past year, AMD stock has had an incredible run. The 2020 performance saw the stock surge by around 500%, taking the closing price of $37 to a high of about $80. This increase in value was mainly driven by the company’s ryzen processors, its bet on the 5G revolution, and other associated factors.
Given this impressive performance, many analysts are now predicting that AMD stock could soar even higher in 2021. According to some analysts, the stock price could potentially reach up to $125 by the end of the year. This is a massive increase from the current price point, and could be a great opportunity for investors to capitalize on.
The main reason for this potential increase in AMD stock is the company’s thriving business. With the ongoing boom in the semiconductor market, AMD is in a great position to benefit from the increased demand in the space. Furthermore, with its ryzen processor proving to be a hit with consumers, and its 5G play set to gain traction, it’s no wonder that analysts are bullish on the potential of AMD stock.
Thus, investors looking for big potential gains should keep a close eye on AMD stock. If the analysts’ predictions do come true, the stock could soar over 50% in 2021, and provide investors with great returns.