5 Best Blue Chip Stocks To Buy

1. Microsoft Corporation (NASDAQ:MSFT)

No. of Hedge Fund Holders: 258

Microsoft Corporation (NASDAQ:MSFT) is a multinational technology corporation that makes consumer electronics and computer software.

Given its strong financial balance sheet, strong market share in enterprise, and growing market share in the cloud, Microsoft Corporation (NASDAQ:MSFT) is regarded as a blue chip by many.

Microsoft Corporation (NASDAQ:MSFT) is also the most widely held Dow Jones component among hedge funds we track. According to data maintained by Insider Monkey, 258 funds were bullish on Microsoft Corporation (NASDAQ:MSFT) in the second quarter of 2022, compared to 259 the previous quarter.

Fisher Asset Management is the biggest stakeholder of Microsoft Corporation (NASDAQ:MSFT) as of the second quarter of 2022, with more than 28 million shares worth more than $7 billion.

Here is what Alger Capital specifically said about Microsoft Corporation (NASDAQ:MSFT) in its Q2 2022 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) is a positive dynamic change beneficiary of corporate America’s transformative digitization. during a previous earnings call, Microsoft’s CEO estimated that technology spending as a percent of GDP may increase from about 5% today to 10% in 10 years. Microsoft’s enterprise cloud product, Azure, is rapidly growing and accruing market share and its revenues increased 49% during the first three months of this year as the company’s revenue growth approached 20%. Microsoft’s share price declined despite its high unit volume growth as the broad equity market was down due to higher interest rates and slowing economic growth.”

You can also take a peek at 10 Best 3D Printing Stocks to Buy Now and 30 Most Visited Cities In the US.

Follow Insider Monkey on Twitter