Is Advanced Micro Devices (AMD) Stock a Buy For 2021?

Carillon Eagle Mid Cap Growth Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. You should check out Carillon Eagle Mid Cap Growth Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Carillon Eagle Mid Cap Growth Fund highlighted a few stocks and Advanced Micro Devices Inc (NASDAQ:AMD) is one of them. Advanced Micro Devices Inc (NASDAQ:AMD) is a semiconductor company. In the last one year, Advanced Micro Devices Inc (NASDAQ:AMD) stock gained 86.8% and on December 31st it had a closing price of $91.71. Here is what Carillon Eagle Mid Cap Growth Fund said:

“Advanced Micro Devices produces semiconductor products and devices. The stock outperformed due to healthy growth in the personal computer and data center server markets. The company also continues to gain share against its major competitor, which is having significant issues in its next generation products. Furthermore, investors have appreciated the margins and profitability the company has been posting in addition to the topline strength.”

Last month, we published an article revealing that Advanced Micro Devices Inc (NASDAQ:AMD) was one of the top 10 stocks New Mets owner Steve Cohen was buying in the third quarter.

In Q3 2020, the number of bullish hedge fund positions on Advanced Micro Devices Inc (NASDAQ:AMD) stock increased by about 39% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in AMD’s growth potential. Our calculations showed that Advanced Micro Devices Inc (NASDAQ:AMD) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

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Disclosure: None. This article is originally published at Insider Monkey.