“1 Artificial Intelligence (AI) Stock Down 29% to Buy Right Now Before It Soars 78%”
May 13, 2024
“Advanced Micro Devices‘ (NASDAQ: AMD) artificial intelligence (AI)-fueled rally has come to a screeching halt in 2024. Shares of the chipmaker are down 29% since the beginning of March, when they were trading at a 52-week high, and the company’s latest results aren’t going to help arrest the slide…
AMD has a five-year average forward earnings multiple of 33. Multiplying that with the projected earnings in 2028 points toward a stock price of $267, a potential increase of 78% from current levels. That’s why investors would do well to use AMD’s pullback as a buying opportunity, as this AI stock could turn out to be a winner in the long run once it starts growing at a faster pace…”
https://finance.yahoo.com/news/1-artificial-intelligence-ai-stock-143000883.html
In my opinion now is not a good time for long term investors in general. A better point on entry would be to wait until the stock market crashes. At least that’s what I would do.