Innovation and business ingenuity are powerful wealth-creating forces that you don't want to miss out on. Amazon (NASDAQ: AMZN) and Advanced Micro Devices (NASDAQ: AMD) are two growing companies that are soundly beating the market in 2023. Amazon is already up 23%, while Advanced Micro Devices is up 32%.
The average brokerage recommendation (ABR) for Advanced Micro (AMD) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
Given the shift in sentiment over the past few years, it's easy to forget that Intel is still a much bigger and more industry-dominant company than rival chipmaker Advanced Micro Devices (NASDAQ: AMD). CEO Lisa Su has engineered a spectacular comeback for AMD at the expense of Intel, which CEO Pat Gelsinger is desperately trying to steer back on course. What really impressed investors, though, was AMD's data center revenue, which rocketed 42% higher to $1.7 billion.