Can Advanced Micro Devices Stock Hit $200 Per Share?

If it weren't for some remarkable CEO turnover (turnaround?) at OpenAI, the parent company of ChatGPT, the latest quarterly earnings report from chip design company Nvidia (NVDA) would have been hands-down the biggest artificial intelligence (AI) story of the holiday week on Wall Street. Instead, as investors watched Sam Altman's resume updating in real time with roughly the same speed as Microsoft's (MSFT) share price, NVDA and its Q3 earnings had to settle for a tie.

Semiconductors are the beating heart of any AI project or application, but specialized chips are required to quickly and capably process the heavy computing demands. So, while the VanEck Semiconductor ETF (SMH) has managed a standout year-to-date gain of 60%, the returns among individual components have been somewhat lopsided. While Nvidia shares have more than tripled on a YTD basis, for example, Texas Instruments (TXN) is down 3.8%.