5 Hot Tech Stocks to Invest in Now

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

3-Month Average Volume: 77.42M

Year-to-date Performance: 23.51%

Number of Hedge Fund Holders: 120

Based in Santa Clara, California, Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company using high-performance computing, graphics, and visualization technologies to provide computing solutions for cloud, edge, and end devices.

On October 10, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced the signing of a definitive agreement to acquire Nod.ai to expand the company’s open AI software capabilities. Earlier this year in August, the company acquired Mipsology, and AI software company with proven expertise delivering AI software and solutions running on top of AMD adaptive computing silicon.

On March 7, Mizuho raised the price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $235 from $200 and maintained a ‘Buy’ rating on the shares. “Positive AI custom silicon and ethernet tailwinds for the target increase” are the main reasons for the firm’s rosy outlook for the stock.

As of Q4 2023, 120 hedge funds tracked by Insider Monkey held shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), worth $15.2 billion.

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