7 Best Semiconductor Stocks to Buy Now

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

Number of Hedge Fund Holders: 107

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a renowned semiconductor company that specializes in designing and developing advanced processors, graphic cards, and associated technologies. With strong prospects for the broader semiconductor industry, the company remains well-placed to expand its market share, enhance innovation, and improve revenues throughout product lines. Advanced Micro Devices, Inc. (NASDAQ:AMD)’s remarkable transformation demonstrates strategic focus, managerial excellence, and innovative adaptability, which places it well amidst the competitive semiconductor market.

Furthermore, the semiconductor’s industry expansion throughout multiple sectors, such as data centers, gaming, AI, 5G, and automotive results in significant opportunities for Advanced Micro Devices, Inc. (NASDAQ:AMD). The strong demand for cloud services and hyperscale data centers directly supports the company’s EPYC processors and Instinct GPUs, which provide high performance and energy efficiency for compute-intensive workloads. Rosenblatt Securities gave a “Buy” rating on the shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), setting a price objective of $250.00 on 28^th October.

The company made numerous strides over the past few years, enhancing its market share in central processing units (CPUs) and graphics processing units (GPUs), while placing itself to capitalize on the ever-evolving AI accelerators’ demand. The growth in AI and ML applications is expected to fuel demand for Advanced Micro Devices, Inc. (NASDAQ:AMD)’s hardware optimized for parallel processing, like GPUs and accelerators. Notably, AI workloads are fueling the semiconductor industry by creating demand for high-performance, energy-efficient, and AI-optimised chips.