5 Best 5G Stocks To Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 120

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a renowned global semiconductor company, operating across various segments including Data Center, Client, Gaming, and Embedded. With operations spanning the globe, AMD is venturing into the telecommunications sector with a focus on 5G and compute innovations. Notably, its EPYC processors are engineered to offer superior performance while minimizing energy consumption.

In a recent update on March 11, analysts from Cantor Fitzgerald reaffirmed an Overweight rating for Advanced Micro Devices, Inc. (NASDAQ:AMD), along with a price target of $190.

As of the fourth quarter’s conclusion, 120 hedge funds had taken long positions on Advanced Micro Devices, Inc. (NASDAQ:AMD), amassing a combined stake valued at $15.2 billion.

Jackson Peak Capital said the following about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its fourth-quarter 2023 investor letter:

“On the long side of the portfolio, a core theme we remain invested behind is the data center infrastructure buildout and AI chips arms race that we’ve discussed since our first letter in Q2. Some skepticism has crept into the market, and it’s understandable given the huge ramp in 2023. However, our research continues to suggest 2023 was the start of a multi-year platform shift. Value will accrue to varying segments of the AI value chain at different parts of the cycle. We continue to see value in the “boots on the ground” winners in the data center buildout (Vertiv, Modine Manufacturing, Celestica). Our positioning in AI semiconductor companies (NVDA and Advanced Micro Devices, Inc. (NASDAQ:AMD)) has ebbed and flowed given we are cognizant (perhaps too much so) that these names are crowded positions across investor style types. We’ve done well in these chip stocks since inception and NVDA is currently a long, and we’re trying to “let winners run” while using sizing to risk manage these names due to the market-wide positioning bias in semiconductors.”