11 Stocks That Will Go to the Moon According to Reddit

8. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Analyst Upside as of January 14, 2025: 56%

Number of Hedge Fund Holders: 107

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor and IT company that produces accelerators capable of managing complex AI workloads, ranking eighth on our list. The company has boosted its position over the past few months by launching advanced processors for the next generation of PCs and high-performing computing solutions for the AI computing demand. For instance, on January 6, AMD announced the launch of its first commercial Dell PCs that run on its AI processors

On January 14, Gary Mobley, an analyst at Loop Capital initiated a buy rating on the stock and set a price target of $175. The analyst firm is extremely bullish on the stock and is confident that the chipmaker will continue to disrupt the industry and gain market share. Mobley emphasized that AMD has traded like “companies tied to mature markets” but is confident that its progress in GPU-based data center computing solutions will result in the stock winning the AI race.

AMD attributes its growth to its data center products and ever-growing demand for its Ryzen PC processors. The company is emerging in the AI and technology sector as a leader in the production of accelerators and processors. Advanced Micro Devices, Inc. (NASDAQ:AMD) is a favorite among analysts and their median price target implies an upside of 56% from current levels.