AMD’s 118% YTD Rally Is ‘Ludicrous’ According to This Analyst. Should You Still Buy AMD Stock?

A stock rising over 100% in nine months certainly raises eyebrows. People automatically associate such tickers with words like “overvalued,” “running ahead of its fundamentals,” and even an outright “bull trap.” CNBC financial commentator Josh Brown's opinion does make sense when considered in isolation. But none of those usual terms apply to Advanced Micro Devices (AMD), a company that continues to rise amid the artificial intelligence (AI) spending spree, including by OpenAI. 

It may seem that AMD has risen too much too fast, but calling it “ludicrous” isn't entirely accurate. People forget that it is still a $420 billion company that is sitting on the cusp of a major technological shift.