13 High Growth Semiconductor Stocks That Are Profitable in 2024

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

TTM P/E Ratio: 244.60

3-Yr. Average Revenue Growth rate: 32.44%

Number of Q4 2023 Hedge Fund Shareholders: 120

Chip designer Advanced Micro Devices, Inc. (NASDAQ:AMD) has been one of the fastest growing companies of the past decade. Not only is its three year average annualized revenue growth rate among the top five on our list, but the shares are also up by 529% over the past five years. These days, Advanced Micro Devices, Inc. (NASDAQ:AMD) is busy expanding its AI portfolio, and the latest news in May 2024 saw it kick off mass production for its Alveo V80 compute accelerator.

According to hedge fund filings compiled by Insider Monkey, 120 were bullish Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of 2023. Ken Fisher’s Fisher Asset Management owned one of the largest stakes which was worth $4.1 billion.

Follow Advanced Micro Devices Inc (NASDAQ:AMD)