5 Best Data Center Stocks To Invest In

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

Number of Hedge Fund Holders: 83

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor designer that primarily designs and sells GPUs and CPUs to both consumers and enterprises. It is one of the few companies that sells both data center processors and GPUs, which has led it to gain a secure position in the market.

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s strong presence in the data center segment is evidenced by its earnings results. For instance, its earnings for last year’s final quarter revealed that data center and enterprise computing had grown annually by a massive 75%, as companies sped up their infrastructure building. As if this wasn’t enough, the subsequent quarter saw AMD rake in $2.5 billion in the segment, to mark for an even stronger 88% annual growth.

Morgan Stanley noted Advanced Micro Devices, Inc. (NASDAQ:AMD)’s strength in the server segment in a June 2022 report, that set the company’s price target to $103 and pointed out that server growth will place it on a growth trajectory. 83 of the 912 hedge funds polled by Insider Monkey during this year’s March quarter had invested in the company.

Ken Fisher’s Fisher Asset Management is Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor. It owns 24 million shares that are worth $2.6 billion.