5 Most Buzzing Stocks To Buy Now

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

Number of Hedge Fund Investors: 110

A broader rally in the semiconductors market after upbeat results from Taiwan Semiconductor buoyed Advanced Micro Devices Inc. (NASDAQ:AMD) recently is causing AMD stock to move. Advanced Micro Devices Inc. (NASDAQ:AMD) is also getting the spotlight amid AI-driven growth catalysts as Advanced Micro Devices Inc. (NASDAQ:AMD) is seen as a major competitor to NVIDIA Corp (NASDAQ:NVDA).

Advanced Micro Devices Inc. (NASDAQ:AMD) also moved after UBS said in a report that semiconductor demand is expected to surpass supply in 2024 which would create an “imbalance” that would ultimately favor top semi stocks.

As of the end of the third quarter of 2023, 110 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Advanced Micro Devices Inc. (NASDAQ:AMD). The biggest hedge fund stakeholder of Advanced Micro Devices Inc. (NASDAQ:AMD) during this period was Ken Fisher’s Fisher Asset Management which owns a $2.8 billion stake in Advanced Micro Devices Inc. (NASDAQ:AMD).

White Falcon Capital Management stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its fourth quarter 2023 investor letter:

“It is important to note that the returns depicted above actually originated in the market turmoil of 2022 and were only realized in 2023. We assess that about 75% of the returns in 2023 were derived from just 35% of the portfolio. Notably, the technology companies we acquired in 2022 – Advanced Micro Devices, Inc. (NASDAQ:AMD), Amazon, Docebo, NU, Rover – performed exceptionally well. In hindsight, the decision to allocate to technology stocks appears straightforward; but it actually demanded courage and conviction to buy and add to these stocks during the fear and uncertainty of the 2022 bear market.

The top 5 positions in the portfolio were: Precious Metals royalty basket, Nu Holdings, AMD Amazon.com and Converge Technology Services. AMD has worked out great for us but we must admit that it has gotten expensive. AI was not part of our original investment thesis and AMD is a great reminder of how one can get ‘lucky’ investing in quality businesses run by competent management teams (ditto for Amazon).”