5 Best Blue Chip Stocks To Buy Today

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 258

Microsoft Corporation (NASDAQ:MSFT) shares are down 34% year to date given the macro headwinds such as the strong dollar which has made the company’s international earnings less valuable in dollar terms. Potentially weaker computer sales could also slow Microsoft Corporation (NASDAQ:MSFT)’s Windows revenue growth. Nevertheless, there’s still a lot to like about Microsoft Corporation (NASDAQ:MSFT). Baron Funds describes Microsoft Corporation (NASDAQ:MSFT)’s near term challenges and also its long term potential in a Q3 2022 letter,

“Shares of Microsoft Corporation (NASDAQ:MSFT) pulled back with the overall software industry on the back of macroeconomic issues, including inflation concerns and rising interest rates. The company reported another strong quarter, highlighted by total revenues growing 16% on a constant currency basis and Microsoft Cloud revenues, now 48% of total sales, growing 33%, with Azure (Microsoft’s infrastructure cloud) growing 46%. These results were driven by strong demand for large commercial cloud contracts, as more businesses are standardizing on Microsoft’s platform and the company is signing larger and longer deals. Initial fiscal year 2023 guidance calls for healthy double-digit revenue and operating income growth. Both foreign exchange and personal computer headwinds were contemplated in the guidance and have continued to worsen, but we have conviction in the company’s strong competitive positioning, durable growth drivers, and margin expansion opportunity over the mid- to long term.”

With 258 hedge funds in our database holding shares at the end of Q2 2022, Microsoft Corporation (NASDAQ:MSFT) ranks #1 on our list of 12 Best Blue Chip Stocks To Buy Today.

You can also take a look at 20 Most Admired Companies in the World in 2022 and 15 Biggest Dow Companies By Market Cap.

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