10 Best Virtual Reality Stocks To Buy Now

5. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 108

Advanced Micro Devices, Inc. (NASDAQ:AMD) serves as the high-performance and adaptive computing leader that came into being as a Silicon Valley startup in 1969. The firm operates through multiple segments including Data Center, Client, Gaming, and Embedded. AMD provides LiquidVR technology that enables realistic and advanced VR experiences through powerful processors and graphics.

For over 45 years, AMD has driven innovation in high-performance computing, graphics, and visualization technologies which serve as the building blocks for gaming, immersive platforms, and the data center. VR demands a high compute performance which AMD is ready to deliver. AMD has been providing chips that power immersive experiences in various AR and VR devices. The company powers Sony’s PlayStation 5 and Microsoft’s Series X|S game consoles.

The company also introduced the world’s most powerful platform for virtual reality, capable of both creating and consuming VR content. The company’s Radeon Pro Duo with its LiquidVR SDK is a platform aimed at all aspects of VR content creation, from entertainment to education, journalism, medicine, and cinema.

AMD recorded Q3 revenue of $6.8 billion, up 18% year-over-year. The revenue growth was driven by increased sales of EPYC and Instinct data center products and strong demand for Ryzen PC processors. While Record Data Center segment revenue of $3.5 billion was up 122% year-over-year, Client segment revenue was up 29% year-over-year. The management was pleased with the financial performance and sees the firm being on track to deliver record annual revenue for 2024 based on significant growth in its Data Center and Client segments.

The firm has a bright growth potential across its data center, client and embedded businesses driven by the demand for more compute. As of Q2, Advanced Micro Devices, Inc. (NASDAQ:AMD)  is held by 108 hedge funds.