The stock market closed higher on Tuesday, supported by a statement from the Federal Reserve Bank of Cleveland President Loretta Mester which raised hopes that interest rate hikes may moderate.
Overall, S&P 500 and NASDAQ both grew 1.4% to 4,004 and 11,174, respectively.
Tweet of the Day
I'm a huge $NVDA fan but I strongly believe their newest GPUs are going to get disrupted.$AMD's chiplet architecture gives them a HUGE edge in terms of performance per watt and performance per dollar.
Will $NVDA be able to defend its GPU crown?https://t.co/nd6mRHONcs
— Alex (@TickerSymbolYOU) November 14, 2022
Chart of the Day
Our chart of the day is the one-year chart of Advanced Micro Devices (AMD) as of November 16, 2022, when the stock was at $73.
Advanced Micro Devices is a semiconductor company focused on high performance computing technology, software, and products. It develops high performance CPUs and GPUs and integrates these with hardware and software.
AMD seems like a bargain here with a P/E of 20. The stock recently came off its lows, but it is too early to tell if the trend has changed. In the end, David Sharek thinks this is a solid stock for the long-run, but in the meantime, it could continue lower.
AMD has an above average Estimated Long-Term Growth Rate of 17% a year, making this a potential selection for the Growth Portfolio. David Sharek’s Fair Value is a P/E of 24, which equates to $86 a share, but that is a 2023 estimate.
