T. Rowe Price Fund Backs AMD After 100% Rally Despite Valuation Premium
AMD•Dom Rizzo's T. Rowe Price Global Technology Fund, delivering 40% annualized returns over five years, retained Advanced Micro Devices as a top holding after the chipmaker's shares more than doubled year-to-date. Meanwhile, valuation disparities versus peers such as Intel and Qualcomm are cited by some analysts as potential headwinds.
1. Fund Manager Endorsement
Dom Rizzo, manager of the T. Rowe Price Global Technology Fund, has led the vehicle to average annual returns of 40% over the past five years and continues to overweight Advanced Micro Devices following its strong performance.
2. AMD Share Price Rally
Advanced Micro Devices shares have more than doubled year-to-date, driven by robust demand for AI-optimized semiconductors and ongoing data center deployments boosting revenue expectations.
3. Valuation Disparities Emerge
Despite institutional buying, analysts highlight that AMD trades at a meaningful P/E premium versus competitors like Intel and Qualcomm, suggesting limited upside if growth forecasts slow.
