Today, I provide stock analysis on the 10 best tech stocks to buy now in November with significant long-term upside. I provide a blend of stocks, covering secular growth trends such as artificial intelligence, electric vehicles, the cloud, cybersecurity, big data, and more. These
NVIDIA’s NVDA Q3 earnings were much anticipated as one of the 10 largest components of the Nasdaq 100. The stock also tends to have big movements after reporting. On the contrary, NVIDIA’s movement following yesterday’s report has been subtle.
U.S. stock index futures edged lower on Thursday following mixed economic data this week, while chip designer Nvidia rose after reporting better-than-expected quarterly revenue.
So far in 2022, Advanced Micro Devices (NASDAQ: AMD) investors have taken it on the chin with the stock for the chipmaker down roughly 47%. But recent stock price action suggests the year could end on a positive note with some level of recovery.
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Advanced Micro Devices Inc (Symbol: AMD), where a total volume of 394,964 contracts has been traded thus far today, a contract volume which is representative of
Chip designer Nvidia Corp beat expectations for
third-quarter revenue on Wednesday, thanks to sustained demand
in its data center business on the back of rising cloud
adoption.
Chip designer Nvidia Corp forecast fourth-quarter revenue below estimates on Wednesday on worries that a weakened gaming market and tightening enterprise spending amid recessionary fears could deepen the blow to its main businesses.
What happened
The share price of Advanced Micro Devices (NASDAQ: AMD) fell today after Micron Technology said that it's cutting back its chip supply because of slowing demand.
The S&P 500 and Nasdaq fell on Wednesday as a grim outlook from Target spurred fresh concerns for retailers heading into the crucial holiday season, while Micron's supply cut triggered a selloff in the chip sector.
Today's video focuses on Nvidia (NASDAQ: NVDA) and bullish news affecting this semiconductor giant. The most recent development is that Microsoft (NASDAQ: MSFT) and Nvidia recently announced a multiyear collaboration involving tens of thousands of Nvidia GPUs and other networking
Micron Technology MU recently declared that its low-power double data rate 5X (LPDDR5X) mobile memory, which is validated for Qualcomm’s QCOM latest Snapdragon 8 Gen 2 platform, continues to witness growing market traction currently.
While Intel (NASDAQ: INTC) has regained its edge over AMD (NASDAQ: AMD) in the PC CPU market with its Raptor Lake chips, AMD is putting Intel to shame in the server chip market. Intel is still the dominant market leader, buts its products just can't hold a candle to AMD's latest
Last week,
Advanced Micro Devices (
AMD
) officially launched its 4th generation EPYC Genoa server processors and the early feedback from the market seems highly promising.
Baird analyst
Tristan Gerra has been keeping an eye on the initial reaction. “Supply chain checks highlight strong reception of Genoa (5nm Zen 4) at data center OEMs, which are shifting significant resources in support of AMD helped by the VMWare migration platform partnership,” the 5-star analyst buoyantly said.
According to Gerra, Genoa's very notable performance improvement should result in an “acceleration” of AMD's market share gains next year, as well as meaningfully higher pricing and a “higher gross margin profile.” This should further consolidate AMD's EPYC performance domination in the years ahead before Intel can close the gap, even if its Intel 3 plans are executed on time.
“Importantly,” the analyst went on to add, “AMD is solidifying its position with a clearly-defined, performance-leading and delivery-proven product roadmap to OEMs for the next several years, representing a critical key ingredient for market share gains, against Intel's two-year delay on a performance-lagging architecture which could make Sapphire Rapids a stale product even as it ramps in 2023.”
There’s also an additional upcoming launch which could see AMD take market share from another rival. The company will launch its RDNA 3 (RX 7900 XTX, RX 7900 XT) chiplet-based GPUs on December 13, and the cost savings and “competitive price points” enabled by the chiplet architecture
against Nvidia's RTX40 series could see AMD gain share. This is particularly relevant when considering the current “price sensitive customer demand environment.”
Elsewhere, Gerra’s supply chain checks indicate that with ongoing supply constraints and “strong, above -seasonal demand with visibility extending through 1H23,” Xilinx products’ are also generating plenty of interest.
The slew of positive developments is enough for Gerra to change tack on all things AMD. The analyst upgrades his rating from Neutral to Outperform (i.e., Buy), while boosting the price target on AMD to $100 (from $65). As such, Gerra now sees the shares delivering returns of 31% in the year ahead. (To watch Gerra’s track record,
click here
)
Most analysts agree although not all are ready to turn quite as bullish; AMD claims a Moderate Buy consensus rating, based on 20 Buys vs. 7 Holds. At $83.14, on average, the analysts predict a 12-month upside of ~9%. (
See AMD stock forecast on TipRanks)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
What happened
Shares of Advanced Micro Devices (NASDAQ: AMD) climbed on Tuesday, following positive analyst commentary. As of 3:15 p.m. ET, AMD's stock price was up 4.2% after rising as much as 7.7% earlier in the day.
Shares of Nvidia (NASDAQ: NVDA) shot up 36% on the stock market in the past month after suffering a brutal sell-off for most of the year. The rally seems a tad surprising -- the chipmaker issued a terrible outlook in August thanks to the weakness in the personal computer (PC) mar
The end of the year is swiftly approaching, and now is a great time to think about your investment goals for 2023. While a recession could potentially dampen your optimism for portfolio growth next year, a few companies have recently beaten market expectations despite a stock mar
Followers of Warren Buffett know he's generally averse to technology stocks. Buffett typically takes big positions, and therefore seeks a high bar in terms of both valuation and conviction.