13 AI News You Probably Missed

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

Market Capitalization: $240 Billion

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. On November 12, Citi analyst Christopher Danely released an investor note on the chip industry, reiterating a Buy rating on AMD stock and noting that semiconductor consensus estimates had declined 11% during earnings and the SOX index sold off 9%, driven mostly by downside from Microchip, NXP Semiconductors, and Intel. However, the analyst believes the selloff is almost over and attention will shift to 2025. Citi estimates global semi sales to be up another 9% year-over-year in 2025, following 17% growth in 2024. The downside from the industrial end market will dissipate soon and the correction in the auto end market should end sometime in the first half of 2025, the analyst told investors in a research note.

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