5 Best Edge Computing Stocks to Buy

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 269

Microsoft Corporation (NASDAQ:MSFT) is one of the leading players in the edge computing market, and it has a number of competitive advantages that help it stand out from its competitors. Microsoft Corporation (NASDAQ:MSFT) has a large and diverse portfolio of products and services, from cloud computing and machine learning to artificial intelligence and the Internet of Things (IoT). This gives company a unique advantage in the edge computing market, as it can offer customers a comprehensive solution that covers all their needs. In addition, Microsoft Corporation (NASDAQ:MSFT) has a strong track record of developing and deploying cutting–edge technologies that can help customers get the most out of their edge computing solutions. This includes Azure Edge Zones, which provide customers with secure, low–latency networks that help them optimize their edge computing performance. Microsoft Corporation (NASDAQ:MSFT) is placed high on our list of the best edge computing stocks to buy now.

On November 29, Morgan Stanley analyst Keith Weiss maintained an Overweight rating and his $307 price target on Microsoft Corporation (NASDAQ:MSFT).

At the close of the third quarter of 2022, Microsoft Corporation (NASDAQ:MSFT) was a part of 269 investors’ portfolios that disclosed positions worth $61.17 billion in the company. This is compared to 258 positions in the previous quarter with stakes worth $56 billion. The hedge fund sentiment for the stock is positive. As of September 30, Bill & Melinda Gates Foundation Trust is the top investor in the company and has a position worth $9.14 billion.

Here is what Alger Capital had to say about Microsoft Corporation (NASDAQ:MSFT) in its third-quarter 2022 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) is a positive dynamic change beneficiary of corporate America’s transformative digitization. Microsoft CEO expects technology spending as a percent of gross domestic product (GDP) to jump from about 5% now to 10% in 10 years and that Microsoft will continue to capture market share within the technology sector.

Microsoft’s shares underperformed during the period because the company slightly missed analysts’ estimates. The miss was due to foreign currency headwinds, weakening small business and consumer demand, and decreasing advertising activity. However, Microsoft showed that despite consumer, advertising, and small and medium business weakness; the company’s main business, the digitization of corporate America, continues to grow. We believe the secular forces of cloud adoption (azure and office 365) remain resilient, and the company’s commercial bookings growth attest to the continued demand for digital transformation.”

You can also take a look at 16 Large-Cap Stocks with Insider Buying and 10 Best BDC Stocks To Buy.