5 Best COVID Stocks To Buy According To Hedge Funds

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 269

Microsoft Corporation (NASDAQ:MSFT) was one of the biggest beneficiaries of the COVID-19 pandemic. Microsoft Teams was used all over the world as work and education became remote. Global lockdowns served as a positive catalyst for Microsoft Corporation (NASDAQ:MSFT), as total revenues increased 15% over the three-month period ending March 2020, operating income jumped 25% to $13 billion, and net income climbed 22% to $10.8 billion.

On November 2, Macquarie analyst Sarah Hindlian-Bowler initiated coverage of Microsoft Corporation (NASDAQ:MSFT) with a Neutral rating and a $234 price target.

According to Insider Monkey’s data, 269 hedge funds were long Microsoft Corporation (NASDAQ:MSFT) at the end of Q3 2022, compared to 258 funds in the prior quarter. Microsoft Corporation (NASDAQ:MSFT) is one of the top COVID stocks backed by elite investors. 

Diamond Hill made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2022 investor letter:

“Also among our bottom contributors were media and technology giant Alphabet, software and IT services provider Microsoft Corporation (NASDAQ:MSFT) and insurance company American International Group (AIG). Microsoft shares declined in Q3, along with other tech companies, as rising interest rates impacted the near-term outlook. We expect the business to continue to generate strong revenue growth and benefit from operating leverage. Microsoft’s cloud computing services business, Azure, is generating robust growth, confirming its competitive positioning.”

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