If You Invested $1,000 In Advanced Micro Devices Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.

AMD's Big Run: One company that has been a strong investment in the past two years has been semiconductor stock Advanced Micro Devices, Inc. AMD.

Fortunately for AMD investors, the COVID-19 pandemic in 2020 was actually very good for AMD’s business. While other companies were dealing with economic shutdowns, people around the world were sheltering in place, creating a boom in remote work and online gaming.

At the beginning of 2020, AMD shares were trading at around $47. By the beginning of March, the stock was still hovering around $47.50, even after news of the coronavirus spreading in China prompted concerns about a U.S. pandemic.

AMD bottomed at $36.75 during the pandemic-driven March sell-off. Fortunately for AMD investors, the dip did not last long.

By July 2020, AMD shares were back at new all-time highs above $60 and the stock got as high as $99.23 in January prior to an extended consolidation period. AMD broke out to new highs once again in July 2021 on the strength of a better-than-expected earnings report and guidance hike.

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AMD In 2022, Beyond: AMD eventually made it up to new all-time highs of $164.46 in November 2021, but the stock has been drifting steadily lower ever since amid a broad sell-off in high-growth tech stocks. In recent days, the stock was trading around $88.

Still, investors who bought AMD on the day it hit its 2020 pandemic low and held on have generated a nice overall return on their investment. In fact, $1,000 in AMD stock bought on March 18, 2020, would be worth about $2,236 today.

Looking ahead, analysts are expecting AMD's stock to rebound in the next 12 months. The average price target among the 33 analysts covering the stock is $140, suggesting 60% upside from current levels.