Our analyst team just revealed what they believe are the 10 best stocks to buy right now. See the 10 stocks » But one stock that hasn't seemed to captivate investors is Nvidia's chief rival, Advanced Micro Devices (NASDAQ: AMD).

On Friday, December 20, AMD stock closed at $119.21 — by the end of the trading day on December 23, the price of a single AMD share had increased to $124.60. In the premarket trading session for December 24, prices saw an additional, albeit smaller surge up to $126.80 at press time — bringing the total rally up to 6.36%.

Nvidia (NASDAQ:NVDA) stock found itself in a mini-slump in recent weeks, falling into correction, even as other tech stocks experience their so-called "Nvidia moments." Though Nvidia could be a relative laggard for a few more weeks or even months as investors digest the recent Fed meeting,

On the surface, one can see why AMD has struggled. Its $18 billion in revenue for the first nine months of 2024 rose 10%, far below the triple-digit revenue increases of its main rival, Nvidia. Moreover, revenue in AMD's gaming and embedded segments is down 58% and 38%, respectively, in the first three quarters of 2024.