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Is It Too Late to Buy AMD Stock?

Is It Too Late to Buy AMD Stock?

Advanced Micro Devices (NASDAQ: AMD) stock has delivered stunning gains of 84% so far in 2023, which may seem surprising given that the company's revenue and earnings are expected to shrink this year. Its earnings are forecasted to drop to $2.86 per share from $3.50 per share in 2022. The rich earnings multiple and the headwinds that AMD faces suggest that it may be too late for investors to buy into this semiconductor stock's growth spurt.