Jim Cramer’s Top 5 Stock Picks for 2023

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

Number of Hedge Fund Holders: 89

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an information technology company based in Santa Clara, California. The company operates through its Computing and Graphics, and Enterprise, Embedded, and Semi-Custom segments.

As of February 1, Morgan Stanley analyst Joseph Moore holds an Overweight rating on Advanced Micro Devices, Inc. (NASDAQ:AMD) shares.

Cramer believes that since Advanced Micro Devices, Inc. (NASDAQ:AMD) performed well in 2022, it will continue this trend in 2023. He believes in the company’s CEO, Lisa Su, and the company’s underlying business. Advanced Micro Devices, Inc. (NASDAQ:AMD) reported share buybacks of $3.7 billion in 2022, and its data center reported a 41% revenue growth year-over-year in the fourth quarter.

Advanced Micro Devices, Inc. (NASDAQ:AMD) had 89 hedge funds long its stock in the third quarter, with a total stake value of $4.9 billion.

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