15 High Growth Mega Cap Stocks You Can Buy and Hold For Next 3 Years

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

Number of Hedge Fund Holdings: 113

During the first quarter, Advisors Capital Management LLC increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.7% through the purchase of 2,907 shares. According to the recent disclosure with the SEC, the investment advisor now owns 53,503 shares of the company’s stock, valued at $5,497,000.

The company’s planned 70% price surge for its MI350 AI chips is a testament to its position in the highly profitable AI GPU market. With the giant’s AI solutions gaining traction, Advanced Micro Devices, Inc. (NASDAQ:AMD) is in the right direction to benefit directly as AI expands into personal computers.

Despite a recent slowdown in AI chip demand and aggressive competition from Nvidia and Broadcom, Advanced Micro Devices, Inc. (NASDAQ:AMD) is moving ahead with its AI strategy and maintaining its leadership in CPUs. What’s remarkable here is that the company’s growth outlook could fuel the stock 50% to 100% over the next 12 months. Having said that, now may be the golden opportunity for investors to acquire the stock.

Advanced Micro Devices, Inc. (NASDAQ:AMD), headquartered in Santa Clara, California, is a semiconductor company operating in three segments: Data Center, Client and Gaming, and Embedded. Founded in 1969, the company is committed to driving innovation in the PC, gaming, and data center spaces.

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