Along with numerous other growth stocks, Advanced Micro Devices (NASDAQ: AMD) was hit hard in 2022 by reduced spending on tech and rises in inflation. In November, AMD launched a new generation of data center chips named Genoa, and plans to release a more powerful version called Genoa-X later this year. Even with last year's sell-off, AMD's shares have increased 493% over the previous five years and almost 3,000% in the last decade.