5 Best Cryptocurrency Stocks To Buy According To Hedge Funds

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In this article, we discuss the 5 best cryptocurrency stocks to buy according to hedge funds. If you want to read our detailed analysis of cryptocurrencies, go directly to see the 11 Best Cryptocurrency Stocks To Buy According To Hedge Funds

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

Number of Hegde Fund Holders: 63

Advanced Micro Devices, Inc. (NASDAQ:AMD) stands fifth on our list of the best cryptocurrency stocks to buy according to hedge funds. The company makes CPUs and GPUs which are used for bitcoin mining. In June, Advanced Micro Devices, Inc. (NASDAQ:AMD) underperformed as China sharpened its crackdown on crypto mining. However, the stock gained 26.14% in 2021 and 41.99% in the past year.

This October, Goldman Sachs called Advanced Micro Devices, Inc. (NASDAQ:AMD) as its best idea in the semiconductor market and lifted its price target on the stock to $127, with a Buy rating on the shares. In Q2 2021, Advanced Micro Devices, Inc. (NASDAQ:AMD) posted an EPS of $0.63, beating the estimates by $0.09.

Ken Fisher’s Fisher Asset Management is one of the leading shareholders of Advanced Micro Devices, Inc. (NASDAQ:AMD), with shares worth $941 million. Overall, 63 hedge funds tracked by Insider Monkey reported having stakes in the company, valued at over $4.6 billion. In the previous quarter, 61 hedge funds had stakes in Advanced Micro Devices, Inc. (NASDAQ:AMD).

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