5 Surprising ‘Strong Buy’ Tech Stocks That Also Could End Up Huge AI Winners

Shares of this global semiconductor company are down almost 19% year to date. Advanced Micro Devices Inc. (NYSE: AMD) offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs. It offers embedded processors and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing units, field programmable gate arrays and adaptive SoC products.

AMD provides processors under the AMD Ryzen, AMD Ryzen PRO, Ryzen Threadripper, Ryzen Threadripper PRO, AMD Athlon, AMD Athlon PRO and AMD PRO A-Series brand names; graphics under the AMD Radeon graphics and AMD Embedded Radeon graphics, as well as professional graphics under the AMD Radeon Pro graphics brand name. In addition, the company offers data center graphics under the Radeon Instinct and Radeon PRO V-series brands, as well as servers under the AMD Instinct accelerators brand.

Last month the company unveiled its new Instinct MI300 chip series, which it claims is designed for speeding up processing for generative AI, and that is the technology used by ChatGPT and other chatbots.

Baird’s target price is $170, and Advanced Micro Devices stock has a $133.70 consensus target. The stock closed over 5% lower on Thursday at $110.25.

Atlassian

This could be one of the best hidden values in the entire group. Atlassian Corp. (NASDAQ: TEAM) designs, develops, licenses and maintains various software products worldwide.

Those products include:

• Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work and projects
• Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal and HR teams
• Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them
• Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions
• Confluence, a social and flexible content collaboration platform used to create, share, organize and discuss projects
• Trello, a collaboration and organization product that captures and adds structure to fluid, fast-forming work for teams
• Bitbucket, a code management and collaboration product for teams using distributed version control systems
• Atlassian Access, an enterprise-wide product for enhanced security and centralized administration that works across every Atlassian cloud product used, including Jira, Jira Service Management, Confluence, Trello and Bitbucket