5 Best Cloud Computing Stocks To Buy Now

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 302

Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) stands as a leading technology company renowned for its diverse array of products and services. These offerings include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games.

Microsoft Corporation (NASDAQ:MSFT) received praise from Wall Street following its December quarter results announced on January 31, which exceeded expectations. The positive reception underscores the company’s increasing benefits from artificial intelligence, which are only beginning to unfold. Notably, AI played a pivotal role in driving a six-percentage-point growth for Azure in the quarter, resulting in a 30% overall growth rate, surpassing the company’s earlier guidance.

In the Q4 2023 database compiled by Insider Monkey, 302 out of 933 hedge funds had acquired and held shares of Microsoft Corporation (NASDAQ:MSFT). The largest shareholder was Michael Larson’s Bill & Melinda Gates Foundation Trust, with holdings valued at $14.3 billion.

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