3 Tech Stocks To Buy Today According To Billionaire David Tepper

1. Alphabet Inc. (NASDAQ:GOOG)

Appaloosa Management’s Stake Value: $332.36 million

Percentage Of Appaloosa Management’s 13F Portfolio: 13.29%

Number of Hedge Fund Holders: 160

Alphabet Inc. (NASDAQ:GOOG) is the biggest tech holding in Appaloosa Management’s portfolio. Recognized as the parent company of Google and its subsidiaries, Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company headquartered in Mountain View, California. David Tepper’s hedge fund holds 119,000 shares of Alphabet Inc. (NASDAQ:GOOG), with a stake worth over $332.36 million as of Q1 2021.

For the first quarter of 2022, Alphabet Inc. (NASDAQ:GOOG) reported an EPS of $24.62, missing consensus estimates by $0.93. Revenue for the period came in at $68 billion, an increase of 22.95% on a year-over-year basis, and surpassed consensus estimates by $124.6 million.

Guggenheim analyst Michael Morris lowered the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,000 from $3,350 but kept a Buy rating on its shares on April 27. Although he still views the company as a top technology leader, he lowered his estimates to reflect incremental 2022 guidance headwinds that include the Russia/Ukraine conflict and unfavorable foreign exchange impacts.

158 hedge funds reported owning stakes in Alphabet Inc. (NASDAQ:GOOG) at the end of Q4 2021, as compared to 156 hedge funds in the preceding quarter. Among the hedge funds being tracked by Insider Monkey, Chris Hohn’s TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG), with 2.37 million shares worth more than $6.62 billion.

Here is what Farrer Wealth Advisors has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2022 investor letter:

“Alphabet: We won’t waste much time trying to explain to our clients why Alphabet is such a phenomenal business, we believe that is quite self-evident. The better explanation is why we never bought Alphabet before. The reason was a personal bias we held based on three beliefs (which we now believe to be incorrect)

Growth in YouTube would stall as the increased ad-load would turn-off viewers (the double ad-load at the beginning of videos for example). Consumers will focus on discovery rather than search to purchase new items. For example – using Instagram/TikTok to decide what new clothes to buy instead of ‘googling’ for clothes. Other Bets: In general, we felt that capital spent on “Other Bets” has been a bit wasteful with the segment earning just around $3.1bn in revenue versus nearly $21bn in operating losses over the last five years…” (Click here to see the full text)

You can also take a look at 15 Best Semiconductor Stocks to Buy Now and 15 Best Undervalued Stocks to Buy Now.

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