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AMD Stock Under-Owned Despite AI Growth Potential, Says Bank of America
AMD Stock Under-Owned Despite AI Growth Potential, Says Bank of America
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BTCCSquare news:
Bank of America identifies Advanced Micro Devices (AMD) as the most under-owned U.S. semiconductor stock among active fund managers. Ownership has plummeted to 20% in August from 39% a year ago, despite consensus expectations for 22% sales growth in 2023.
The bank reiterates its Buy rating, citing AMD's positioning to capitalize on surging AI demand for chips and processors. Market share gains against Intel and Nvidia further bolster the bullish case, though Nvidia remains the sector's most widely held stock at 75% institutional ownership.
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