Is AMD a buy-the-dip opportunity amid a semiconductor slump?
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AMD (NASDAQ:AMD) has suffered in 2022 along with the rest of the semiconductor sector. The stock has rebounded from its 52-week low in recent weeks, but shares remain more than 30% lower for the year so far. 
With the recent slide, some experts are pointing to a buy-the-dip opportunity, as the company reaches what its CEO describes as a "significant inflection point" in consolidating its massive acquisition of Xilinx. Should you view the stock as a buy?
Chip Shortage to Economic Concerns
AMD (AMD) reached an all-time high of $164.46 in late November, driven higher by post-pandemic demand and a global semiconductor shortage. The stock had closed out 2020 below the $92 mark, meaning it rallied 44% over 11 months to reach its peak.
However, shares of the semiconductor giant more than reversed those gains in the following months, eventually reaching an intraday 52-week low of $72.50. Weighed down by the Federal Reserve's rate-hiking campaign and worries about a potential economic slowdown, shares lost ground in late 2021 and the early months of 2022. 
The stock has seen a rebound lately. Bolstered by an upgrade from Piper Sandler, the stock jumped earlier this week but failed to hold its momentum in the face of a massive market sell-off on Wednesday. In Wednesday's midday trading, shares hovered below $97.
Meanwhile, shares have also seen support lately from a strong earnings report. AMD surpassed analysts' estimates with its Q1 results and raised its forecast for the full year. 
Meanwhile, Lisa Su, the company's CEO, spoke about the quarterly report as a "significant inflection point." It included the first results with its newly closed acquisition of Xilinx, which AMD bought in an all-stock deal worth nearly $50B.
"[The addition of] Xilinx can't be overstated," Su said. "It significantly expands our product and technology portfolio."
Is AMD a Buy?
This week, Piper Sandler upgraded AMD to Overweight from Neutral, arguing that fears about the computer chip maker have not "played out as expected." The firm also raised its price target to $140 from $90.
Another high-profile financial firm views AMD as an excellent buy-the-dip candidate as well. Bank of America ranked the stock among the eight best names to consider when looking to find bargains following the overall slide in tech stocks.
This fits a generally upbeat attitude on Wall Street. Of the 39 analysts surveyed by Seeking Alpha, 22 have issued bullish outlooks. This included 19 Strong Buy ratings and three Buy recommendations.
Still, some analysts have doubts about the stock's ability to bounce back. A large chunk (16 in total) has given the stock a Hold opinion. One analyst has issued a Strong Sell rating.
Meanwhile, quantitative measures indicate a potential buying opportunity. Seeking Alpha's Quant Ratings give AMD an A for profitability and growth. The stock receives an A- grade for momentum. This is offset somewhat by a C for valuation.

For a deeper dive into AMD, read a report from SA contributor Robert Castellano, who looks into whether the stock represents a good buy during the recent dip.