5 Best American Tech Stocks To Buy According to Analysts

3. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 221

Upside Potential According to Analysts: 14.10%

Average Price Target: $164

A total of 221 hedge funds were long Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, with a total stake value of $26.2 billion.

Alphabet Inc. (NASDAQ:GOOGL) is a big tech company. It is based in Mountain View, California.

Scott Devitt at Wedbush reiterated an Outperform rating on Alphabet Inc. (NASDAQ:GOOGL) alongside a $160 price target on January 31.

Here’s what Madison Investments said about Alphabet Inc. (NASDAQ:GOOGL) in its fourth-quarter 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG) was positive during the quarter but had a more modest gain in the fourth quarter following a strong third quarter and as a result, lagged the Technology sector more broadly. Alphabet’s third quarter included solid Search and You Tube results while Cloud growth was a bit softer, growing at 22% year-over-year. Google continues to incorporate AI in its core search businesses. It has been rolled out to a wide number of users across multiple geographies. We will continue to watch how Google adapts AI in its businesses and monitor cloud growth.”

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