5 Best American Tech Stocks To Buy According to Analysts

In this article, we will be taking a look at the 5 best American tech stocks to buy according to analysts. To read our detailed analysis of the US tech industry, you can go directly to see the 13 Best American Tech Stocks To Buy According to Analysts.

5. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 90

Upside Potential According to Analysts: 11.99%

Average Price Target: $96.57 

Micron Technology, Inc. (NASDAQ:MU) is a semiconductor company. It is based in Boise, Idaho.

An Overweight rating was reiterated on Micron Technology, Inc. (NASDAQ:MU) on January 31 by John Vinh at Keybanc.

In total, 90 hedge funds were long Micron Technology, Inc. (NASDAQ:MU) in the third quarter, with a total stake value of $4.4 billion.

4. QUALCOMM, Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 67

Upside Potential According to Analysts: 13.64%

Average Price Target: $162.80

An Overweight rating and a $165 price target were maintained on QUALCOMM, Incorporated (NASDAQ:QCOM) on February 1 by Harsh Kumar at Piper Sandler.

QUALCOMM, Incorporated (NASDAQ:QCOM) is another semiconductor company on our list. It is based in San Diego, California.

We saw 67 hedge funds long QUALCOMM, Incorporated (NASDAQ:QCOM) in the third quarter. Their total stake value was $2.3 billion.

Madison Investments said the following about QUALCOMM, Incorporated (NASDAQ:QCOM) in its fourth-quarter 2023 investor letter:

“QUALCOMM Incorporated (NASDAQ:QCOM) also reported a solid fourth fiscal quarter with better than expected results. The company guided the first quarter ahead of expectations despite headwinds from Samsung as the inventory headwinds dissipate. Qualcomm remains well positioned in the mobile handset market and should benefit as Artificial Intelligence moves to edge devices which could drive an upgrade cycle.”

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.”

2. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 306

Upside Potential According to Analysts: 15.64%

Average Price Target: $469.45 

Microsoft Corporation (NASDAQ:MSFT) is a systems software company. It is based in Redmond, Washington.

Microsoft Corporation (NASDAQ:MSFT) had 306 hedge funds long its stock in the third quarter. Their total stake value was $26.2 billion.

On January 31, Daniel Ives at Wedbush maintained an Outperform rating and a $475 price target on Microsoft Corporation (NASDAQ:MSFT).

Madison Investments mentioned Microsoft Corporation (NASDAQ:MSFT) in its fourth-quarter 2023 investor letter:

“Microsoft Corporation’s (NASDAQ:MSFT) sustainable scorecard was updated with an unchanged rating of Above Average. The company’s board has an official Environmental, Social, and Public Policy Committee in addition to the traditional Audit, Compensation, and Governance committees. For ten years, Microsoft has publicly released data measuring the diversity of its workforce. With the prominence of Artificial Intelligence (AI), the company has launched a 5-point blueprint for governing AI to address public policy and regulation. Environmentally, Microsoft has multiple programs to be carbon negative by 2030. The company has signed Purchase Power Agreements for carbon-free energy totaling 13.5 Gigawatts.”

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 286

Upside Potential According to Analysts: 22.95%

Average Price Target: $208.58

Mark Mahaney at Evercore ISI Group maintains an Outperform rating and a $220 price target on Amazon.com, Inc. (NASDAQ:AMZN) as of February 2.

There were 286 hedge funds long Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, with a total stake value of $38.9 billion.

Amazon.com, Inc. (NASDAQ:AMZN) is a big tech company engaged in the fields of e-commerce and cloud computing. It is based in Seattle, Washington.

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