4 Best Tech Stocks to Buy According to Hedge Funds

1. Microsoft Corporation (NASDAQ:MSFT)

Percentage of Invesco QQQ Trust’s Portfolio: 10.11%

Number of Hedge Fund Holders: 258

Redmond, Washington-based Microsoft Corporation (NASDAQ:MSFT) is a leading technology company with products that include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft Corporation (NASDAQ:MSFT) boasts over 1.4 billion monthly active devices running its flagship operating system, Windows 10 or 11.

Earlier this year, Microsoft agreed to acquire Activision Blizzard, Inc. (NASDAQ:ATVI) in an all-cash transaction valued at $68.7 billion. The proposed acquisition is expected to accelerate growth in Microsoft’s Gaming business across mobile, PC, console, and cloud.

In July, Microsoft Corporation (NASDAQ:MSFT) reported its earnings for the quarter ended June 30, 2022. Its revenue increased by 12% y-o-y to $51.9 billion, while net income increased by 2% y-o-y to $16.7 billion. It recorded an EPS of $2.23, missing consensus by $0.06.

As of Q2 2022, Microsoft Corporation (NASDAQ:MSFT) has the second highest weight on Invesco QQQ Trust’s portfolio at 10.11%. Microsoft Corporation (NASDAQ:MSFT) is the most sought-after stock among the 895 hedge funds tracked by Insider Monkey as 259 of these hedge funds held shares in the software giant, valued at $56 billion. Fisher Asset Management was the largest shareholder in the company owning 28.7 million shares valued at $7.4 billion.

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