In this article, we discuss the 5 best big tech stocks to buy right now. If you want to read our detailed analysis of the semiconductor industry, go directly to the 12 Best Big Tech Stocks to Buy Right Now.
5. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 138
Apple Inc (NASDAQ: AAPL) is perhaps the most well known technology firm in the world, particularly due to its late co-founder Mr. Steve Jobs. Apple has a market capitalization of $2.4 trillion as of mid September and it prides itself on being one of the most innovative companies in the world, particularly due to is success with the iconic iPhone smartphone lineup. With billions of dollars in its cash reserves, and an ever evolving technology landscape fueling rumors that Apple is planning on targeting the automotive sector, Apple also has a large umber of hedge funds holding its shares.
Out of the 873 hedge funds analyzed by Insider Monkey by the end of the second quarter of this year, 138 had a stake in Apple Inc (NASDAQ: AAPL) for a total value of $145 billion.
4. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 190
Alphabet Inc. (NASDAQ: GOOGL) lies at the backbone of what is known as the modern-day Internet. It is the parent company of Google, which is the world’s largest and most widely used search engine. Both Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) and Google have other companies under their wing which target a diverse range of growing technology sectors such as cloud computing and the Internet of Things (IoT).
By the end of the second quarter this year, 190 of the 873 hedge funds analyzed by Insider Monkey had owned GOOGL shares, which was equal to $26.8 billion.
In the Q2 2021 investor letter of Qualivian Investment Partners, the fund mentioned Alphabet Inc. (NASDAQ: GOOG). Here is what the fund said:
“The opportunity in online advertising remains very attractive for Alphabet’s subsidiary Google. In the recent June quarter, Google’s ad sales grew 69%. Alphabet’s subsidiary YouTube’s ad revenue soared 84%, to $7 billion, in the second quarter, putting the business on par with Netflix, which reported quarterly revenue of $7.3 billion. Netflix is expected to grow sales by 19%, to $29.7 billion this year, while YouTube’s ad revenue is forecast to rise 45%, to $28.7 billion.
Alphabet slashed operating losses for the Google Cloud by more than half, as the business continues to scale, growing at 50%+ clips. Furthermore, the company continues to have potentially new growth options via its investments in autonomous driving (Waymo) and various healthcare businesses such as Verily and Calico.”
3. Microsoft Corporation (NASDAQ: MSFT)
Number of Hedge Fund Holders: 238
Microsoft Corporation (NASDAQ: MSFT) is one of the largest technology companies in the world and it is primarily known for its Windows operating system. Due to the fact that it can work with computers from every brand, except Apple Inc’s (NASDAQ: AAPL) notebooks, Windows is one of the most popular software in the world. Microsoft also offers cloud and data center services through its Azure platform.
238 out of the 873 hedge funds polled by Insider Monkey held a stake in the company by the end of the first half of this year, with the stake equaling $62.5 billion.
In its Q2 2021 investor letter, Baron Opportunity Fund highlighted a few stocks, and Microsoft Corp. (NASDAQ:MSFT) is one of them. Here is what the fund said:
“Shares of Microsoft Corporation, a cloud-software leader and provider of software productivity tools and infrastructure, rose during the quarter following a strong earnings report highlighting solid demand for its broad product stack and continued momentum migrating its business to the cloud. Microsoft was a top contributor in the period because it trades at reasonable free cash flow and earnings valuations, has cloud and digital transformation tailwinds at its back, reported a solid March quarter, and beat Street expectations by a wide margin. Microsoft’s results continued to be strong across the board, with Azure cloud computing revenues up 46% in constantcurrency (“cc”) terms and commercial cloud bookings growth of 38% cc, the best in years. Microsoft also reported robust profitability growth, with operating income expanding 31% and GAAP earnings up 45%. We believe the company is well positioned for continued solid growth and profitability through market share gains as more companies look to transform and digitize their businesses as they move operations to the cloud.”
2. Facebook, Inc. (NASDAQ:FB)
Number of Hedge Fund Holders: 266
Facebook, Inc. (NASDAQ: FB) is one of the largest and most popular social media platforms in the world. It is at the forefront of demonstrating the power of modern day technology to connect populations spread over thousands of miles all over the globe, as it enables people to connect with each other, businesses to market their products and governments to stay in touch with their populations.
Data surveyed by Insider Monkey reveals that as of the start of the second half of this year, 266 out of 873 hedge funds held a stake in Facebook, Inc (NASDAQ: FB) with a total value of $42.3 billion.
In the Q2 2021 investor letter of First Eagle Investment Management, the fund mentioned Facebook, Inc. (NASDAQ: FB). Here is what the fund said:
“Leading contributors in the First Eagle Global Fund this quarter included Facebook, Inc. Class A. Facebook has continued to post impressive results for both revenue and active users of its traditional platforms. In the meantime, the social media giant continues to make progress on new initiatives—like Facebook Horizon (virtual reality) and Facebook Shops (e-commerce)—and maintains attractive monetization optionality around services like Messenger and WhatsApp.”
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 266
Amazon.com, Inc. (NASDAQ: AMZN) is one of the largest technology firms in the world and it is primarily known for its digital retailing platform. The company also has a substantial presence in the growing cloud and datacenter markets, through its Amazon Web Services (AWS) platform. AWS is a highly advanced cloud computing and data center offering, with Amazon.com, Inc. (NASDAQ: AMZN) even having designed its own processors under the Graviton lineup to cater to this segment.
Out of the 873 hedge funds polled by Insider Monkey by the second half, 271 held a stake in the company for a total value of $60 billion.
You can also take a peek at the 5 Best Robinhood Stocks Under $20 and 10 Stocks That Raised Their Dividend in 2021.
