5 Best Crypto Stocks To Buy Now

In this article, we discuss the 5 best crypto stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 11 Best Crypto Stocks To Buy Now. 

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

Number of Hedge Fund Holders: 65

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor firm. The products marketed by it are used to power machines that mine cryptocurrencies. Wedbush analyst Matt Bryson has an Outperform rating on Advanced Micro Devices, Inc. (NASDAQ:AMD) stock with a price target of $165. In an investor note, the analyst highlighted that Advanced Micro Devices, Inc. (NASDAQ:AMD) would gain market share in the intermediate term provided it executed growth plans over the next few years.

Major hedge funds recognize Advanced Micro Devices, Inc. (NASDAQ:AMD) as a top chipmaker. Chicago-based investment firm Citadel Investment Group is a leading shareholder in Advanced Micro Devices, Inc. (NASDAQ:AMD) with 12 million shares worth more than $1.3 billion.

In its Q4 2020 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Advanced Micro Devices, Inc. (NASDAQ:AMD) was one of them. Here is what the fund said:

“We also exited our positions in Advanced Micro Devices. Our investment campaign in Advanced Micro Devices (AMD) began in the second half of 2018, and we have seen a new management team reinvigorate the company’s product portfolio of microprocessors for PCs and servers, graphics processors, and video game consoles. These new, higher-margin products have helped the company partially close its margin gap with peers and capture share from market leader Intel. While we believe there is meaningful runway for further share gains and margin expansion, AMD has appreciated far beyond our mid-cap market cap mandate, and we exited our position.”