Advanced Micro Devices (AMD) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
In 2022, the Nasdaq-100 Technology Sector index plunged almost 40% after macroeconomic declines led to reduced spending in the industry. As a result, many of the world's most valuable companies experienced steep declines in their share prices.
TipRanks’
Top Smart Score Stocks tool helps identify stocks that have a greater chance of outperforming the market. The tool considers eight different factors, including analyst ratings, technical analysis, and insider activity, among others, and assigns a score to stocks between 1 and 10, with 10 being the best.
Delta Air Lines (
NYSE:DAL
) and Advanced Micro Devices (
NASDAQ:AMD
) are two such stocks that recently landed a “Perfect 10”
Smart Score. Year-to-date, both these stocks have outperformed the 3.7% rally in the S&P 500 (
SPX
) by a remarkable margin.
Delta Air Lines
Yesterday,
DAL stock was added to the Perfect 10 list. The stock also has a positive signal from hedge funds. Our data shows that
hedge funds bought about 3.7 million shares of the company in the last quarter. The stock also enjoys
bullish Blogger sentiment and a
Positive News Sentiment on TipRanks. Lastly, an ROE of 25.2% is another positive factor.
Rebound in travel demand and expectations of lower costs, as the updated fleet is likely to improve fuel efficiency, should drive the company’s performance in the near term. Moreover, the stock is trading at a considerable discount compared to the sector average. Its current price-to-sales ratio of 0.49x is much lower than the sector’s average of 1.38.
Is DAL Stock a Buy?
Delta Air Lines has a Strong Buy consensus rating on TipRanks. This is based on 13 Buy and one Hold recommendations. The average price target of $50.86 implies 32.4% upside potential from current levels.
DAL stock is up 17.8% so far in 2023.
Advanced Micro Devices
Chip giant Advanced Micro Devices has a top-notch
Smart Score of “Perfect 10” on TipRanks. Hedge funds have maintained a positive outlook on
AMD stock. Our data shows that
hedge funds bought 17.9 million shares of the company in the fourth quarter.
Bloggers are bullish on the stock, while
News Sentiment is neutral.
AMD is well-positioned to benefit from the improving trends in the
artificial intelligence (AI) space, given the growing interest since
ChatGPT was introduced to the market. At the same time, the company’s efforts to diversify its business through strategic acquisitions and improving
cash flows bode well for long-term growth.
What is the Future of AMD?
Analysts are cautiously optimistic about the stock. It has a Moderate Buy consensus rating based on 15 Buy and seven Hold recommendations. Further, the average price target of $93.18 implies 15.8% upside potential. Shares of the company have gained 25.7% year-to-date.
Ending Thoughts
Investment decisions in these uncertain times can be a daunting task for investors. But one can consider stocks that have surpassed the market returns so far, with more upside expected by top Wall Street analysts. Also, the confidence of hedge fund managers is another positive factor.
Stay abreast of the
best that TipRanks’ Smart Score
has to offer.
Disclosure
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