Is Advanced Micro Devices, Inc. (AMD) One of the Best Augmented Reality Stocks to Buy Right Now?

Advanced Micro Devices Inc. (NASDAQ:AMD) is one of the best augmented reality stocks to buy right now. On November 20, Raymond James resumed coverage of Advanced Micro Devices Inc. (NASDAQ:AMD) with an Outperform rating and a $337 price target.

Moderate Buy Consensus Supports Advanced Micro Devices, Inc. (AMD) Amid AI Partnerships and AR Expansion

The positive stance is in response to the company’s strong position as a leading provider of CPU, APUs, and GPUs in consumer and data center markets. The research firm is also impressed by the company’s push to develop new elements, including platforms and software.

According to Raymond James, AMD is well-positioned to continue gaining market share in PCs. It expects the recent wins with OpenAI and Humain to serve as an endorsement for other model builders and hyperscalers to integrate AMD’s GPUs.

Zyphra is the latest high-profile name to leverage the company’s Instinct MI300X GPUs on ZAYA1, a large-scale Mixture-of-Experts (MoE) foundation model. The integration affirms the capabilities of AMD hardware for production-scale AI workloads.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is best seen as an AR enabler stock. The company provides high-performance CPUs, GPUs, and AI accelerators that power AR and VR devices, from gaming headsets like PlayStation VR 2 to enterprise and industrial applications. AMD supports the AR ecosystem through partnerships with companies like Magic Leap and by enabling infrastructure such as 5G for immersive experiences. Although its technology is essential for AR, AMD doesn’t make AR hardware, and AR is just a small part of its wider computing and graphics business.

While we acknowledge the potential of AMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.