5 Web 3.0 Stocks to Buy and Hold for Long Term

In this article, we discuss the 5 Web 3.0 stocks to buy and hold for the long term. If you want to read about more Web 3.0 stocks, go directly to 10 Web 3.0 Stocks to Buy and Hold for Long Term.

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

Number of Hedge Fund Holders: 69

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor firm. Major hedge funds are bullish on the stock. Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Advanced Micro Devices, Inc. (NASDAQ:AMD) with 21 million shares worth more than $3 billion.

Blockchain technology requires cutting edge processing power. The chips that are made by Advanced Micro Devices, Inc. (NASDAQ:AMD) are some of the most powerful in the world and hence are one of the leading hardware items used for crypto mining. As reliance on blockchain increases, AMD is likely to benefit from a corresponding rise in demand for chips. 

In its Q4 2020 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Advanced Micro Devices, Inc. (NASDAQ:AMD) was one of them. Here is what the fund said:

“We also exited our positions in Advanced Micro Devices, Inc. (NASDAQ:AMD). Our investment campaign in Advanced Micro Devices, Inc. (NASDAQ: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 a meaningful runway for further share gains and margin expansion, Advanced Micro Devices, Inc. (NASDAQ:AMD) has appreciated far beyond our mid-cap market cap mandate, and we exited our position.”