15 Best Technology Stocks to Buy for the Long Term

Page 6 of 14

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

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the Best Technology Stocks to Buy for the Long Term. On March 9, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced entering into a multi-year licensing agreement with Adeia. Through this deal AMD gains access to Adeia’s IP portfolio covering hybrid bonding, packaging, and processing technologies.

This comes as both the companies settled their dispute over ​semiconductor technology, as reported by Reuters on March 9. Adeia had filed two patent lawsuits against Advanced Micro Devices in Texas federal court. Paul E. Davis, Adeia’s CEO, noted:

“We are pleased to reach this agreement with AMD, a global leader in high-performance computing and advanced semiconductor solutions,”

Adeia has pioneered fundamental advances in the semiconductor industry over the last 30 years and maintains a large and growing IP portfolio licensed to leading firms worldwide. This settlement removes legal overhang for Advanced Micro Devices, Inc. (NASDAQ:AMD).

That said, on March 5, Stacy Rasgon from Bernstein assigned a Hold rating on the stock with a price target of $235. The analyst noted that Washington is drafting a resolution that will require companies including Advanced Micro Devices to get a license to export AI chips. While the regulation is yet to be finalized it can add extra friction for chipmakers.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor company focused on high-performance computing, graphics, and visualization technologies. Its main products include microprocessors, graphics processors, personal computers, workstations, and embedded system applications.

Page 6 of 14