5 Stocks to Buy According to Gavin Baker’s Atreides Management

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

Baker’s Stake Value: $185.1 million

Percentage of Gavin Baker’s 13F Portfolio: 3.3%

Number of Hedge Fund Holders: 63

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American company headquartered in California which develops processors for computing devices and other similar products.

Atreides Management owns 1.97 million shares worth $185.07 million in Advanced Micro Devices, Inc. (NASDAQ:AMD), representing 3.3% of their portfolio. However, Atreides Management decreased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 35% in the second quarter of 2021.

Advanced Micro Devices, Inc. (NASDAQ:AMD) was mentioned by Artisan Partners Limited Partnership in their investor letter in the fourth quarter of 2020. Here is what the letter said:

“We also exited our positions in Advanced Micro Devices. Our investment campaign in Advanced Micro Devices (AMD) began in the second half of 2018, and we have seen a new management team reinvigorate the company’s product portfolio of microprocessors for PCs and servers, graphics processors, and video game consoles. These new, higher-margin products have helped the company partially close its margin gap with peers and capture share from market leader Intel. While we believe there is meaningful runway for further share gains and margin expansion, AMD has appreciated far beyond our mid-cap market cap mandate, and we exited our position.”