4 Reasons Why AMD Will Keep Climbing

There’s no end in sight for AMD’s rally…

This story was originally published here.

Semiconductor stocks have been on fire since late March on optimism that the Covid-19 impact on the global semiconductor market will be both short-lived and not-that-big. That optimism gained credence in late June, thanks to strong earnings reports and updates from Micron (NASDAQ:MU) and Xilinx (NASDAQ:XLNX). Semiconductor stocks continued on their blistering rally.

The world’s hottest and arguably strongest semiconductor company, Advanced Micro Devices (NASDAQ:AMD), has been no exception to this trend. From its March lows, AMD stock has risen more than 40%.

I think it’s worth sticking with this rally in AMD stock.

Despite some obvious valuation risks (50-times forward earnings, versus a semiconductor stock average of 19-times forward earnings), AMD stock will continue to rally over the next few months for four big reasons:

  • The fundamentals underlying the global semiconductor will dramatically improve in the back-half of 2020 and into 2021/22.
  • AMD’s business remains the fastest growing, most exciting business in the global semiconductor market.
  • Thanks to strong gaming tailwinds, AMD is positioned to have a blockbuster second-half 2020.
  • New products should sustain robust growth in the company’s ultra-important cloud business.

Improving Fundamentals

The fundamentals underlying the global semiconductor market will dramatically improve over the next few months thanks to super-charged demand in some of the industry’s critical end-markets.

Just look at all the demand catalysts on the horizon for the semiconductor market…

Editor's Note: Click here to keep reading.

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