Some analysts see Advanced Micro Devices (AMD) as disruptive, in that it creates, transforms, and disrupts the entire industry. Like NVIDIA (NVDA) did with data centers, AMD advanced the concept of GPU (graphics processing unit) computing, transformed the world of AI, and disrupted server CPU (central processing unit) demand.

AMD stock has risen 200% in two years, and its volatility is higher than the market’s. It has been technically strong for over a year, and its fundamental valuation is very high.

Is AMD disruptive? The answer is no, as it has not yet disrupted the market for industry leaders Intel (INTC) and NVIDIA, and it still fears its competitors will strengthen. However, AMD could become disruptive. Let’s now look at whether AMD stock has any potential upside given its risks.