We recently published an article titled Billionaire Ken Fisher’s 10 Technology Stock Picks with Huge Upside Potential. In this article, we are going to take a look at where Advanced Micro Devices, Inc. (NASDAQ:AMD) stands against the other technology stocks.
Technology stocks have faced heightened volatility in 2025, with market sentiment swinging sharply in response to President Donald Trump’s aggressive trade policies. On April 3, tech shares endured their worst day since the COVID-19 pandemic as Trump announced sweeping tariffs on all imported goods, including a 34% duty on Chinese imports, exacerbating fears of a global trade war. An iPhone maker led the steep declines among the “Magnificent Seven,” plummeting over 9% due to its reliance on Chinese manufacturing. Other tech giants also fell between 8% and 9%, while semiconductor and PC companies recorded double-digit losses. The tech-heavy NASDAQ tumbled 6%, marking its worst session over five years and deepening its year-to-date loss to more than 14%.
Despite the recent turmoil, broader optimism about technology and growth stocks remains underpinned by longer-term trends. Notably, Ken Fisher of Fisher Asset Management has emphasized that while mega-cap tech firms often face headwinds, they tend to outperform during bullish cycles and reflect broader market confidence. He argues that 2024’s rally was more expansive than many recognize, with tech and communication services stocks leading growth across the board. While tech stocks often decline more in bearish periods, their historical track record of resilience and growth during recoveries continues to make them attractive for long-term investors. This underscores why, even amid significant volatility, tech stocks retain strategic value for portfolios, particularly when the market regains momentum.
Signs of a potential rebound appeared later in April, as major indexes recovered modestly on April 24, with tech shares helping lead the rally. Investors responded positively to reports that the U.S. and China had resumed trade talks, despite earlier denials from Beijing. Trump’s announcement that some tariffs might be rolled back helped ease immediate fears, although uncertainty remains high. Analysts noted that the recent tech selloff had left the market oversold, setting the stage for short-term gains. However, mixed earnings reports and rising costs across industries continue to fuel caution, reinforcing the unpredictable nature of trade policy’s impact on tech and broader equity markets.
Our Methodology
For this article, we scanned Fisher Asset Management’s Q4 2024 13F filings to identify billionaire Ken Fisher’s technology stock picks with the highest upside potential. We compiled the tech equities with upside potential higher than 27% at the time of writing this article and discussed why they stood out as sound potential investments. Finally, we ranked the stocks based on the ascending order of their upside potential. To assist readers with more context, we mentioned the hedge fund sentiment around each stock using data from 1,009 hedge funds tracked by Insider Monkey in the fourth quarter of 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (see more details here).
A close up of a complex looking PCB board with several intergrated semiconductor parts.
Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders as of Q4: 96
Fisher Asset Management’s Equity Stake: $2.91 Billion
Upside Potential as of April 30: 44.84%
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a prominent American multinational technology company headquartered in Santa Clara, California, with key operational facilities in Austin, Texas. As a fabless semiconductor firm, AMD specializes in designing and developing a broad array of high-performance computing products, including central processing units (CPUs), graphics processing units (GPUs), field-programmable gate arrays (FPGAs), system-on-chip (SoC) solutions, and other advanced computing technologies. Its diversified product portfolio serves a wide spectrum of markets, ranging from gaming and embedded systems to data centers and artificial intelligence (AI) applications.
In 2024, Advanced Micro Devices, Inc. (NASDAQ:AMD) achieved a record-breaking financial performance, reporting full-year revenue of $25.8 billion, supported by strong growth in its data center and client computing businesses. Gross margin for the year was 49%, with operating income at $1.9 billion and net income totaling $1.6 billion. On a non-GAAP basis, AMD posted a record gross margin of 53%, operating income of $6.1 billion, net income of $5.4 billion, and diluted earnings per share of $3.31. For the fourth quarter alone, AMD reported record revenue of $7.7 billion. Non-GAAP results included a gross margin of 54%, record operating income of $2.0 billion, record net income of $1.8 billion, and earnings per share of $1.09. These strong quarterly figures highlight the momentum behind AMD’s next-generation technologies and growing market demand across its segments.
With an upside potential of 44.84%, Advanced Micro Devices, Inc. (NASDAQ:AMD) is fourth among the ten technology stocks with huge upside potential in Ken Fisher’s portfolio. As of Q4 2024, Fisher Asset Management increased its position in the company to over 24 million shares, marking a 2% rise from 23.8 million shares in Q3. The fund’s stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) is now valued at approximately $2.91 billion. This surge in institutional interest underscores strong confidence in the stock’s long-term growth and suggests optimism about the company to maintain profitability in a competitive industry.
Overall AMD ranks 4th among billionaire Ken Fisher’s technology stock picks with huge upside potential. While we acknowledge the potential of AMD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMD but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.