5 Best 5G Stocks To Buy Now

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

Number of Hedge Fund Holders: 87

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor company. The company also powers 5G network technology. UBS analyst Timothy Arcuri on November 14 upgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) to Buy from Neutral with a price target of $95, up from $75. The analyst anticipates “some replenishment” moving through FY23, noting that compute hardware “typically out-performs off the bottom”.

According to the second quarter database of Insider Monkey, 87 hedge funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD), compared to 83 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the leading position holder in the company, with more than 25 million shares worth $2 billion. 

Here is what Baron Opportunity Fund has to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q2 2022 investor letter:

“Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global fabless semiconductor company focusing on high-performance computing technology, software, and products. AMD designs leading high-performance central and graphics processing units (known as CPUs and GPUs) and integrates them with hardware and software to build differentiated solutions for customers.

AMD has been gaining meaningful share in personal computing and server end markets over the past several years driven by the performance of its processors and technology and strong execution against its technology roadmap, and we believe share gains will continue over the coming years from a combination of AMD’s continued advancements and Intel’s stumbles in developing its leading-edge technology.

Additionally, the recently closed acquisitions of Xilinx and Pensando enhance AMD’s positioning within the data center, a key growth engine for the semiconductor industry, and Xilinx specifically opens up several new growth opportunities in new end markets like industrial, automotive, and communications. The company also generates significant cash flow, giving it capital allocation optionality for further M&A and returning capital to shareholders.”