Top 5 Stock Picks of John Hurley’s Cavalry Asset Management

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

Cavalry Asset Management’s Stake Value: $79,927,000
Percentage of Cavalry Asset Management’s 13F Portfolio: 7.46%
Number of Hedge Fund Holders: 87

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a multinational semiconductor company. ZWEIG DIMENNA PARTNERS was a notable stakeholder of the company in Q3, holding shares worth roughly $3.71 million.

Gus Richard, a Northland analyst, downgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) from ‘Outperform’ to ‘Market Perform’ on October 31 with a $60 price objective, down from $80. Richard forewarned investors that he expected domestic Chinese demand to recover exceptionally slowly and that ARM CPU market share would continue to expand, especially in China.

Cavalry Asset Management reported owning shares worth $79.93 million of Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of Q2 2022, slashing the position by 13% from the last quarter. By the end of Q2 2022, 87 hedge funds tracked by Insider Monkey held stakes in Advanced Micro Devices, Inc. (NASDAQ:AMD), up from 83 in the previous quarter. The aggregate value of these stakes was over $4.84 billion.

In its Q2 2022 investor letter, Baron Funds mentioned Advanced Micro Devices, Inc. (NASDAQ:AMD). Here is what the fund said:

“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.….” (Click here to read the full text)

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