AI Stocks to Watch: Intel (INTC) and AMD (Advanced Micro Devices)

Title: Intel and AMD: Riding the AI Wave in the Semiconductor Market

The semiconductor market is abuzz with the integration of artificial intelligence (AI) into products, and two major players, Intel and AMD, are making waves with their AI-related growth prospects. While Nvidia continues to dominate the market, Intel and AMD are showing promising signs of growth and innovation.

Intel, a renowned semiconductor company founded in 1968, saw its stock surge by 90% in 2023, driven by strong quarterly results and AI-related growth prospects. Despite a slow start in 2024, Intel remains focused on achieving process and product leadership, expanding its product portfolio, and driving long-term value for stakeholders. With impressive financials and a positive outlook for the future, Intel’s shares are considered reasonable compared to its peers.

On the other hand, AMD has emerged as a major player in the semiconductor industry, outperforming the tech-heavy Nasdaq Composite with a 127% gain in 2023. The integration of AI has improved AMD’s fundamentals, leading to a 40.7% gain in the stock so far in 2024. With strong demand for its products and strategic acquisitions in the AI space, AMD is poised for continued growth in the coming years.

Analysts are bullish on both Intel and AMD, with Intel stock rated as a “hold” and AMD stock rated as a “strong buy.” While Intel’s average target price implies a potential upside of 54.5%, AMD has already surpassed its average target price, with a high target price suggesting further growth potential.

As AI continues to drive innovation in the semiconductor market, investors should keep an eye on Intel and AMD as they ride the AI wave and capitalize on the growing demand for AI-powered devices and solutions.