American Politicians are Buying These 5 AI Stocks

This article presents an overview of American Politicians are Buying These 5 AI Stocks. For a detailed overview of such stocks read our article, American Politicians are Buying These 10 AI Stocks.

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

Number of Hedge Fund Investors: 120

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the stocks American politicians are buying. Congressman Josh Gottheimer from the Democratic Part bought shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) on March 18 worth between $1,000 to $15,000. Since then through April 22 Advanced Micro Devices, Inc. (NASDAQ:AMD) shares have declined by 20%.

American senator Markwayne Mullin earlier this year also bought Advanced Micro Devices, Inc. (NASDAQ:AMD) shares.

Meridian Contrarian Fund stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its fourth quarter 2023 investor letter:

“Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor chip maker specializing in central processing units (CPUs), which are considered the core component of most computing devices, and graphics processing units (GPUs), which accelerate operations running on CPUs. We invested in 2018 when it was a mid-cap value stock plagued by many years of underperformance due to lagging technology and lost market hi share versus competitors Intel and Nvidia. Our research identified that changes and investments made by current management under CEO Lisa Su had, over several years, finally resulted in compelling technology that positioned AMD as a stronger competitor to Nvidia and that its latest products were superior to Intel’s. We invested on the the belief that AMD’s valuation at that that time did not reflect the potential for its technology leadership to generate significant market share gains and improved profits. This thesis has been playing out for several years. During the quarter, AMD unveiled more details about its upcoming GPU products for the AI market. The stock reacted positively to expectations that AMD’s GPU servers will be a viable alternative to Nvidia. Although we pared back our exposure to AMD into strength as part of our risk-management practice, we maintained a position in the stock. We believe AMD will continue to gain share in large and growing markets and is reasonably valued relative to the potential for significantly higher earnings.”