5 Best Esports Stocks to Buy Now

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 289

Microsoft Corporation (NASDAQ:MSFT) tops our list of the best esports stocks. The company is involved in esports through various avenues, including game development and Xbox. The company is also in the process to acquire Activision Blizzard in a $69 billion deal. In fiscal Q3 2023, Microsoft Corporation (NASDAQ:MSFT) announced a 3% growth in its Xbox content and services revenue.

At the end of Q1 2023, 289 hedge funds in Insider Monkey’s database owned stakes in Microsoft Corporation (NASDAQ:MSFT), worth collectively nearly $58 billion.

Ariel Investments mentioned Microsoft Corporation (NASDAQ:MSFT) in its first-quarter 2023 investor letter:

“Enterprise software provider, Microsoft Corporation (NASDAQ:MSFT) also traded higher in the period alongside the investor enthusiasm for Artificial Intelligence. Microsoft is well positioned as this new technology advances given its large investment in Open AI, the parent company of ChatGPT. Looking ahead, we continue to like Microsoft’s solid fundamentals, competitive positioning and long-term business outlook. We anchor on the company driving value creation by capitalizing on a broad and deep set of opportunities, most notably within Azure, its hybrid cloud infrastructure. The platform continues to demonstrate share gains and strong multi-year purchase intent as enterprises transition to cloud based platforms. At current trading levels, we believe Microsoft’s risk/reward is skewed to the upside.”

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