Xilinx is a technology firm based in San Jose, California. The company was founded in the year 1984 and specializes in field programmable gate arrays (FPGA). FPGAs are used in electronics and are more flexible than integrated circuits because they can be reconfigured for the desired application. Xilinx and Intel dominate the multibillion-dollar FPGA market. FPGA’s are associated with high switching costs and they are used in pieces of equipment that have at least a decade of operational lifetime. These moats are some reasons why Xilinx is counted among the best technology stocks to buy right now.
AMD Is Acquiring Xilinx
Advanced Micro Devices, one of the largest processor manufacturers, announced in October 2020 its plan to acquire Xilinx. The deal is expected to be all-stock valued at $35 billion. AMD CEO Lisa Su said, “This is truly a compelling combination that will create significant value for all stakeholders, including AMD and Xilinx shareholders who will benefit from the future growth and upside potential of the combined company. The Xilinx team is one of the strongest in the industry and we are thrilled to welcome them to the AMD family. By combining our world-class engineering teams and deep domain expertise, we will create an industry leader with the vision, talent and scale to define the future of high performance computing.”
Meanwhile, Xilinx CEO Victor Peng said, “Our leading FPGAs, Adaptive SoCs, accelerator and SmartNIC solutions enable innovation from the cloud, to the edge and end devices. We empower our customers to deploy differentiated platforms to market faster, and with optimal efficiency and performance. Joining together with AMD will help accelerate growth in our data center business and enable us to pursue a broader customer base across more markets.”
Stock Performance Of The Best Technology Stocks To Buy Right Now
AMD’s stock closed at $92.66 on 30th November 2020. It is up 24% over the past month. AMD’s stock is up 88% year-to-date. In fact, most of the iconic technology companies have performed quite well during the pandemic and the year 2020 has been a positive one for NASDAQ’s top names. Xilinx’s stock is up almost 23% in the past month and up 43% on a year-to-date basis.
