In this article, we discuss 5 best 5G stocks to buy now. If you want to see more stocks in this selection, check out 13 Best 5G Stocks To Buy Now.
5. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 97
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor company that operates through four segments – Data Center, Client, Gaming, and Embedded. It is one of the premier 5G stocks to monitor. The company’s Q4 revenue of $5.6 billion rose by 16% compared to the same period last year. This growth was mainly due to an increase in revenue in the Embedded and Data Center divisions, although it was partly offset by a decrease in revenue in the Client and Gaming segments.
On March 20, Raymond James analyst Srini Pajjuri raised the firm’s price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $115 from $100 and kept a Strong Buy rating on the shares. The reason for this increase is the positive signs of a PC market recovery and the ongoing strength of Advanced Micro Devices, Inc. (NASDAQ:AMD)’s FPGA. The firm also believes that the current expectations of -7%/+2% quarter-over-quarter growth in Q1/Q2 for AMD’s Data Center segment are reasonable, and expects the company’s PC revenue to hit its lowest point in Q1.
According to Insider Monkey’s fourth quarter database, 97 hedge funds were bullish on Advanced Micro Devices, Inc. (NASDAQ:AMD), compared to 89 funds in the prior quarter. Ken Griffin’s Citadel Investment Group is a significant position holder in the company, with 6.5 million shares worth $424.7 million.
Baron Opportunity Fund made the following comment about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2022 investor letter:
“During the quarter, we added to our position in Advanced Micro Devices, Inc. (NASDAQ:AMD), 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. While the company is seeing weakness in its PC business in the short term, we continue to believe AMD will be one of the lead beneficiaries of growing data center infrastructure spending driven by expanded use cases for AI and cloud computing across its product portfolio. AMD’s largest share gain opportunity is in its data-center-server CPUs, which continue to take share from incumbent Intel given a superior total cost of ownership proposition driven by better performance per watt of energy consumption across many computing workloads. We also believe Xilinx, a recent acquisition, offers AMD diversification opportunities through which it can benefit from the broader proliferation of semiconductors into all aspects of the industrial and consumer economies.”
