AMD Stock – 3 WallStreetBets Tech Stocks Analysts Predict Have More Than 30% Upside By StockNews
© Reuters. 3 WallStreetBets Tech Stocks Analysts Predict Have More Than 30% Upside
The recent tech sell-off provides the perfect entry opportunity for investors to bet on good stocks at attractive levels to maximize their returns in the future. Reddit forum Wallstreetbets, which has gained attention this year for its power to squeeze short sellers, has been focusing on the stocks of Advanced Micro Devices (NASDAQ:), Skillz (SKLZ), and Corsair Gaming (CRSR). Thus, analysts expect these stocks to generate substantial momentum in the near term. Let’s discuss.The tech sell-off has been ongoing for some time as investors rotate away from the expensive tech players to relatively cheaper outdoor and cyclical stocks that are expected to gain significantly from a faster-than-expected macroeconomic recovery. This is evidenced by the Nasdaq Composite’s marginal gains over the past three months versus the broader S&P 500 index’s 7.6% returns over this period.
However, the tech sector is likely to remain vibrant in a post-pandemic economy because almost every industry is adopting innovative technology to increase their efficiency and market shares. This, combined with the continuation of remote working arrangements given their advantages over working on-premises, is expected to drive the tech industry going forward. Thus, analysts expect many technology companies to generate strong growth even in the post-pandemic world.
Given this backdrop, Reddit community WallStreetBets (WSB) is betting on overshadowed tech companies Advanced Micro Devices, Inc. (AMD), Skillz Inc. (SKLZ), and Corsair Gaming, Inc. (CRSR). Consequently, Wall Street analysts expect these stocks to gain more than 30% over the next 12 months.
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