5 Most Buzzing Stocks To Buy Now

In this article, we will discuss the 5 most buzzing stocks to buy now. If you want to explore similar stocks, you can go to 12 Most Buzzing Stocks To Buy Now.

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

Volume as of March 15: 86.17 million

Average Volume (3-Month): 57.04 million

Number of Hedge Fund Holders: 97

Advanced Micro Devices, Inc. (NASDAQ:AMD) was spotted on 97 hedge funds’ portfolios at the end of Q4 2022. These funds held collective positions worth $5.70 million in the company, up from $4.99 million in the previous quarter with 89 positions. The hedge fund sentiment for the stock is positive.

This March, Raymond James analyst Srini Pajjuri initiated coverage of Advanced Micro Devices, Inc. (NASDAQ:AMD) with a Strong Buy rating and a $100 price target. The stock is creating a lot of buzz on Wall Street and has an intraday trading volume of 86.17 million, as of March 15.

As of December 31, Citadel Investment Group is the top shareholder in Advanced Micro Devices, Inc. (NASDAQ:AMD) and holds a position worth $424.7 million in the company.

Here is what L1 Capital International had to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its third-quarter 2022 investor letter:

“The share price of Advanced Micro Devices, Inc. (NASDAQ:AMD) was weak during the quarter and weakened further in early October when the pre-announced revenue was significantly below prior guidance, reflecting an acute slowdown in the PC market. Data centre related revenue grew strongly, albeit below our expectations, while gaming and embedded revenue was in line with our base case.

Geopolitical risks have increased for the semiconductor sector, with the U.S. Government announcing restrictions on the sale of certain technologies to China. Despite near term headwinds, AMD is well positioned for the medium term, with a technology lead over Intel in servers for data centres and rapidly gaining share in the PC/notebook sectors. Its gaming and embedded applications continue to grow strongly. AMD is a very capital light business, with manufacturing outsourced. After expending nearly $5b on research and development, AMD generates around $5b of free cashflow. With a net cash balance sheet, we expect management will accelerate buyback activity at a share price well below fair value.

The share price of our more cyclical businesses, in particularly the building products companies which have exposure to the U.S. residential, repair and renovation and infrastructure sectors, were broadly flat for the quarter. Rapidly escalating mortgage rates and rapidly reducing affordability will have a pronounced negative effect on near term new residential construction activity. We believe these cyclical pressures are well understood and are more than reflected in current share prices. Overall, we strongly believe share prices are overly reflecting near-term challenges and our portfolio of companies are now meaningfully undervalued.”