5 Semiconductor Stocks Billionaires Are Loading Up On

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

Number of Billionaire Investors: 19

Dollar Value of Billionaire Holdings: $1,663,103,326

Number of Hedge Fund Holders: 91

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a Santa Clara, California-based semiconductor company founded in 1969. The company is known for designing and manufacturing a range of computer processors and related technologies.

In a note issued to investors on May 3 following the Q1 2023 results, Christian Schwab at Craig-Hallum upgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) stock from a Hold to a Buy rating and increased the target price from $76 to $100. The analyst anticipates double-digit growth from the PC segment in 2024 and thinks that Advanced Micro Devices, Inc. (NASDAQ:AMD) can emerge as a big winner in the AI space.

Horizon Kinetics LLC shared its stance on Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q1 2023 investor letter. Here’s what the firm said:

“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 semi-conductor 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’s outperformed Apple, Amazon, Google, Meta (Facebook) and Nvidia…” (Click here to read the full text)