Is Advanced Micro Devices (AMD) Still a Buy After Its 180% Plus Rally?

The rapid expansion of artificial intelligence is creating a major opportunity in the central processing unit (CPU) market, positioning Advanced Micro Devices, Inc. (NASDAQ:AMD) for robust growth. Bank of America strategists expect the server market to expand from approximately $61 billion to $211 billion by 2030. The firm estimates that roughly $180 billion of the $211 billion server CPU market in 2030 will be tied to AI workloads, creating a significant market for AMD's EPYC server processors. AMD also ranks among Insider Monkey's 11 AI Stocks That Will Go to the Moon— but where does it rank among the other AI names on the list? On September 25, the research firm reiterated a Buy rating on AMD.