Is AMD Stock A Buy After Chipmaker's AI Product Launch?

Advanced Micro Devices ( AMD ) stock surged to an all-time high in January on news about its latest processors for artificial intelligence.

AMD competes with Intel in making central processing units, or CPUs, for personal computers and servers.

Chief Executive Lisa Su has shepherded the Santa Clara , Calif.-based company into a new era with its Ryzen PC processors and Epyc server chips in 2017 .

AMD now is focused on making chips for AI applications, a market where Nvidia leads.

AMD stock carries a best-possible IBD Composite Rating of 99 .

AMD stock ranks first among 38 stocks in IBD 's fabless semiconductor industry group.

The fabless chipmaker group ranks fourth out of 197 industry groups that IBD tracks.

IBD trading guidelines recommend focusing on top-rated stocks in leading industry groups.