5 Best Autonomous Driving Stocks To Buy Now

In this piece, we will take a look at the five best autonomous driving stocks to buy now. If you want to learn about the latest news in the autonomous driving industry, then check out 12 Best Autonomous Driving Stocks To Buy Now.

5. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Shareholders In Q3 2023: 81

Tesla, Inc. (NASDAQ:TSLA) is the biggest autonomous driving company in the world. Amidst an economy beset with inflation, the firm, like other car companies, is struggling on the financial front and has missed analyst EPS estimates in two out of its four latest quarters.

As of Q3 2023 end, 81 out of the 910 hedge funds covered by Insider Monkey’s research had bought a stake in Tesla, Inc. (NASDAQ:TSLA).  Catherine D. Wood’s ARK Investment Management was the firm’s biggest shareholder through its $1 billion stake.

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Shareholders In Q3 2023: 134

Apple Inc. (NASDAQ:AAPL) is the world’s biggest consumer technology company. Think it’s strange that Apple Inc. (NASDAQ:AAPL) is an autonomous driving stock? Well, the fact that the firm’s test vehicles traveled nearly half a million miles in 2023 might change your mind. These days all the hype surrounding Apple Inc. (NASDAQ:AAPL) is for its ‘spatial computing’ product, the Vision Pro, which is continuing to marvel users since its launch.

Insider Monkey dug through 910 hedge funds for their third quarter of 2023 shareholdings and found that 134 had bought the firm’s shares. Apple Inc. (NASDAQ:AAPL)’s largest hedge fund investor is Warren Buffett’s Berkshire Hathaway as it owns $156 billion worth of shares.

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Shareholders In Q3 2023: 180

NVIDIA Corporation (NASDAQ:NVDA) is another indispensable autonomous driving stock due to its powerful GPUs. These products power up autonomous driving systems, and NVIDIA Corporation (NASDAQ:NVDA)’s shares are rated Strong Buy on average.

During 2023’s September quarter, 180 out of the 910 hedge funds tracked by Insider Monkey were NVIDIA Corporation (NASDAQ:NVDA) shareholders. Rajiv Jain’s GQG Partners owned the biggest stake which was worth $6.1 billion.

2. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Shareholders In Q3 2023: 221

Tech giant Alphabet Inc. (NASDAQ:GOOGL)’s Waymo business is another sizeable autonomous driving company. These days the firm is facing the heat from unions in Los Angeles that seek to counter its aggressive expansion of driver less taxis in the city.

For their third quarter of 2023 shareholdings, 221 out of the 910 hedge funds covered by Insider Monkey were the firm’s shareholders. Alphabet Inc. (NASDAQ:GOOGL)’s largest shareholder among these was Ken Fisher’s Fisher Asset Management due to its $5.2 billion investment.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Shareholders In Q3 2023: 306

Another unintuitive autonomous driving play, Microsoft Corporation (NASDAQ:MSFT) has a presence in the industry through its multi million dollar investment in the company Wayve and its Azure platform that provides cloud computing capabilities. The shares are rated Strong Buy on average and the average analyst share price target is $449.47.

As of Q3 2023 end, 306 out of the 910 hedge funds surveyed by Insider Monkey had invested in Microsoft Corporation (NASDAQ:MSFT). Michael Larson’s Bill & Melinda Gates Foundation Trust was the biggest investor due to its $12.4 billion stake.

Disclosure: None. You can also take a look at Cathie Wood’s Latest Stock Picks: 11 Biggest Positions and 15 Top Rated Bourbon Whiskeys Under $100.

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