5 Best 5G Stocks to Buy Now

In this article, we will discuss the 5 best 5G stocks to buy now. If you want to read the detailed analysis of the 5G market and its evolution, go directly to 11 Best 5G Stocks to Buy Now.

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

Market Cap as of August 8: $161.545 billion

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor and related products company. Its main products include CPUs, GPUs, chipsets, microprocessors, SoCs, motherboard chipsets, and drivers, among others. On May 11, the company announced that its  Xilinx Zynq UltraScale+ RFSoC has enabled 4G/5G radio access network solutions to support the Meta Connectivity Evenstar program.

Despite the poor semiconductor market conditions, Advanced Micro Devices, Inc. (NASDAQ:AMD)’s EPS of $1.05 outperformed the analyst estimates by $0.01 and represented 70.13% YoY growth in revenue after generating $6.55 billion. The company started the quarter with $2.5 billion of cash and cash equivalents and exited with $4.96 billion. The free cash flow for Q2 was recorded at $906 million.

On August 3, Northland analyst Gus Richard reaffirmed an Outperform rating on Advanced Micro Devices, Inc. (NASDAQ:AMD)’s shares and raised the price target from $95 to $105. The price target revision came after the non-GAAP earnings beat Richard’s estimates.

At the end of Q1 2022, 83 hedge funds were loading up on Advanced Micro Devices, Inc. (NASDAQ:AMD)’s shares, compared to 69 in the previous quarter. 

Here is what Carillon Tower Advisers had to say about Advanced Micro Devices, Inc. in its Q4 2021 investor letter:

“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”