Chipmakers Intel and AMD Position for AI Growth Despite Recent Stock Volatility
-
Intel stock surged 90% in 2023 due to AI growth prospects, but is down 12% in 2024. Analysts predict 30% earnings growth in 2024.
-
AMD stock rose 127% in 2022, outperforming the Nasdaq. Q4 data center revenue rose 38% year-over-year due to AI demand.
-
AMD acquired AI software companies to advance hardware offerings. Management sees continued embedded segment growth from expanded AI portfolio.
-
Intel aims to bring "AI everywhere" with new processors optimized for AI workloads. The PC market rebound could also boost Intel's largest business segment.
-
Wall Street analysts rate AMD a "strong buy" and predict continued double-digit revenue and earnings growth in 2024-2025.