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Summary

After a significant rally, I see more attractive alternatives emerging, such as Mag 7 or other AI plays.

I expect potential consolidation following the recent run-up, introducing some risk for new entrants.

While likely to outperform the benchmark, current valuations appear stretched and warrant caution.

I trimmed my position to manage risk and await a valuation cooldown.

MF3d/E+ via Getty Images

Sure enough, Advanced Micro Devices ( AMD ) had a significant run since my last piece . My bullish thesis played out as I had expected. I am happy with the results, and not throwing in the towel

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in AMD over the next 72 hours. I wrote this article myself, and it expresses my own opinions.…