Reddit Stock Portfolio: 5 Most Popular Tech Stocks To Consider

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

Number of Hedge Fund Holders: 65

Advanced Micro Devices, Inc. (NASDAQ:AMD) makes and sells GPUs, CPUs, and server chips, all products that cater to different consumers in the computer markets. GPU prices have skyrocketed in the past few months because of a chip shortage. In the fourth quarter results due in a couple of weeks, analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to report an increase in shipments and average selling price for this segment, which comprises a significant portion of overall revenue for Advanced Micro Devices, Inc. (NASDAQ:AMD). 

Advanced Micro Devices, Inc. (NASDAQ:AMD) has been one of the best-performing stocks of the year and hedge funds have duly noted this performance. 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 19.6 million shares worth more than $2 billion.

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. Our investment campaign in Advanced Micro Devices (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 meaningful runway for further share gains and margin expansion, AMD has appreciated far beyond our mid-cap market cap mandate, and we exited our position.”