5 Metaverse Stocks Billionaires Are Loading Up On

In this article, we discuss 5 metaverse stocks billionaires are loading up on. If you want to see more stocks in this selection, check out 10 Metaverse Stocks Billionaires Are Loading Up On. 

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

Number of Hedge Fund Holders: 91

Number of Billionaire Investors: 19

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a prominent semiconductor company known for its CPUs and GPUs, which are crucial components in powering and rendering graphics-intensive applications, including those found in the metaverse. In the first quarter of 2023, Advanced Micro Devices, Inc. (NASDAQ:AMD) was found in the investment portfolios of 19 billionaires. 

On May 31, BofA raised the firm’s price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $135 from $120 and maintained a Neutral rating on the shares. The increased price target is attributed to a rising sector multiple. However, BofA’s Neutral rating is influenced by two factors. Firstly, there are headwinds in the x86 total addressable market, which may impact AMD’s growth potential. Secondly, BofA noted that AMD’s data center GPU portfolio is still in the early stages of development, suggesting that it may take time to fully capitalize on this market.

According to Insider Monkey’s first quarter database, 91 hedge funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD), compared to 97 funds in the prior quarter. Billionaire Philippe Laffont of Coatue Management is a significant position holder in the company, with 8.5 million shares worth $833.7 million. 

Horizon Kinetics made the following comment about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q1 2023 investor letter:

“It is among what are considered to be the great technology companies, like Advanced Micro Devices, Inc. (NASDAQ:AMD) and Intel, that one is apt to see some of the greatest confusion between short-term financial results and share price movements, on the one hand, and long-term financial results. The former are exceedingly difficult to predict. Long term results are relatively easy to predict, because they are bound by the limiting realities of the business model. In the case of AMD, that is the business of being a large-scale semiconductor manufacturer with a more dominant competitor that has a scale economy advantage.

Here’s what people see, remember and act upon. In the past several years, AMD has been the best performing major technology stock. It outperformed Apple, Amazon, Google, Meta (Facebook) and Nvidia…” (Click here to read the full text)