5 Best 5G Stocks To Buy Now

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

Number of Hedge Fund Holders: 91

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s chips and processors will power the 5G ecosystem in the world. Advanced Micro Devices, Inc. (NASDAQ:AMD)’s EPYC processors are important in this regard.  Earlier this year Advanced Micro Devices, Inc. (NASDAQ:AMD) and its division Xilinx introduced new adaptive radio computing chips for 5G companies.

As of the end of the first quarter of 2023, 91 hedge funds out of the 943 funds tracked by Insider Monkey reported owning stakes in Advanced Micro Devices, Inc. (NASDAQ:AMD). The biggest stakeholder of Advanced Micro Devices, Inc. (NASDAQ:AMD) during this period was Philippe Laffont’s Coatue Management with an $834 million stake in the company.

L1 Capital International Fund made the following comment about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its second quarter 2023 investor letter:

“During the June 2023 quarter the AI bubble continued to inflate. Advanced Micro Devices, Inc. (NASDAQ:AMD), as a key challenger to Nvidia, will benefit from increased demand for its next generation semiconductor chips. AMD’s share price is reflecting very bullish sentiment and the share price has run ahead of a reasonable base case valuation. Accordingly, we divested our entire position and moved AMD to our Bench.”