Expect shares of Boeing and Advanced Micro Devices to rise 50 percent within the next three years, tech investor Paul Meeks told CNBC on Friday.
Acknowledging that Boeing is not a “tech play,” the lead portfolio manager at the Wireless Fund said the company has a “very interesting services business” that is a “big catalyst.”
“Boeing has been slashed recently because of its ties to China,” Meeks said on “Closing Bell,” “but I think, over time in commercial aviation, it’s going to be very hard to avoid even for the Chinese and oligopolists.”
Shares of Boeing hit a 52-week high of nearly $400 in October. They dropped during the late-2018 sell-off, closing up about 9 percent for the year at $322.50.
The stock closed Friday at $327.08.
Meeks also likes AMD, comparing it Intel, which he called the “kingpin” of PCs in the 1980s and ’90s. He predicts AMD will “take some share in servers” in data centers and also “take some share in the gaming systems from Nvidia. ”
“AMD will never become a household name like Intel of even like Boeing, but you’re going to hear a lot more from it,” he said.
AMD’s stock jumped more than 70 percent last year closing at $18.46. It hit a 52-week high of $34.14 in September.
If Meeks’ projection materializes, shares of the airplane and semiconductor manufacturers would reach about $485 and $28, respectively, by 2022.
