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Should You Invest in Advanced Micro Devices (AMD)?

Horizon Kinetics LLC, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The letter discussed certain business models that can be valuable long-term components of a portfolio. You can check the fund’s top 5 holdings to know more about its best picks for 2023.

Horizon Kinetics highlighted stocks like Advanced Micro Devices, Inc. (NASDAQ:AMD) in the first quarter 2023 investor letter. Headquartered in Santa Clara, California, Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor company. On May 31, 2023, Advanced Micro Devices, Inc. (NASDAQ:AMD) stock closed at $118.21 per share. One-month return of Advanced Micro Devices, Inc. (NASDAQ:AMD) was 44.83%, and its shares gained 16.79% of their value over the last 52 weeks. Advanced Micro Devices, Inc. (NASDAQ:AMD) has a market capitalization of $190.361 billion.

Horizon Kinetics made the following comment about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q1 2023 investor letter:

"It is among what are considered to be the great technology companies, like Advanced Micro Devices, Inc. (NASDAQ:AMD) and Intel, that one is apt to see some of the greatest confusion between short-term financial results and share price movements, on the one hand, and long-term financial results. The former are exceedingly difficult to predict. Long term results are relatively easy to predict, because they are bound by the limiting realities of the business model. In the case of AMD, that is the business of being a large-scale semi-conductor manufacturer with a more dominant competitor that has a scale economy advantage.

Here’s what people see, remember and act upon. In the past several years, AMD has been the best performing major technology stock. It’s outperformed Apple, Amazon, Google, Meta (Facebook) and Nvidia...” (Click here to read the full text)

Semiconductor, Technology, Component
Semiconductor, Technology, Component

Photo by Yogesh Phuyal on Unsplash


Advanced Micro Devices, Inc. (NASDAQ:AMD) is 23rd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 91 hedge fund portfolios held Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of first quarter 2023 which was 97 in the previous quarter.

We discussed Advanced Micro Devices, Inc. (NASDAQ:AMD) in another article and shared the list of best self-driving car stocks to invest in. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.


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