5 Best Forever Stocks To Buy Now

In this article, we will be taking a look at the 5 best forever stocks to buy now. To read our detailed analysis of current stock market trends, you can go directly to see the 14 Best Forever Stocks To Buy Now.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 180

NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It is based in Santa Clara, California.

An Outperform rating and a $650 price target were maintained on NVIDIA Corporation (NASDAQ:NVDA) on November 22 by Rick Schafer at Oppenheimer.

A total of 180 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA) in the third quarter, with a total stake value of $29.6 billion.

White Brook Capital Partners made the following comments about NVIDIA Corporation (NASDAQ:NVDA) in its third-quarter 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes NVIDIA Corporation (NASDAQ:NVDA), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 221

We saw 221 hedge funds long Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, with a total stake value of $26.2 billion.

Alphabet Inc. (NASDAQ:GOOGL) is an interactive media and services company among the big tech names. It is based in Mountain View, California.

A Buy rating and a $166 price target were maintained on Alphabet Inc. (NASDAQ:GOOGL) on December 7 by Rohit Kulkarni at Roth MKM.

ClariVest Asset Management, LLC mentioned Alphabet Inc. (NASDAQ:GOOGL) in its third-quarter 2023 investor letter:

“Alphabet Inc. (NASDAQ:GOOG), the parent company of Google, provides online advertising services worldwide. The company launched its chatbot in Europe and Brazil and said that the artificial intelligence tool can now be interacted with in more than 40 languages and includes new features such as the ability to use images in chat.”

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 234

Ivan Feinseth at Tigress Financial maintained a Strong Buy rating and a $435 price target on Meta Platforms, Inc. (NASDAQ:META) on November 22.

Meta Platforms, Inc. (NASDAQ:META) is a communication services company. It is based in Menlo Park, California.

In total, 234 hedge funds were long Meta Platforms, Inc. (NASDAQ:META) in the third quarter, with a total stake value of $35.2 billion.

This is what White Brook Capital Partners said about Meta Platforms, Inc. (NASDAQ:META) in its third-quarter 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes Meta Platforms, Inc. (NASDAQ:META), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 286

Our hedge fund data for the third quarter shows 286 hedge funds long Amazon.com, Inc. (NASDAQ:AMZN), with a total stake value of $38.9 billion.

Oppenheimer’s Jason Helfstein maintained an Outperform rating and a $200 price target on Amazon.com, Inc. (NASDAQ:AMZN) on December 1.

Amazon.com, Inc. (NASDAQ:AMZN) is a broad-line retail company. It is based in Seattle, Washington.

Here’s what White Brook Capital Partners said about Amazon.com, Inc. (NASDAQ:AMZN) in its third-quarter 2023 investor letter:

“The magnificent seven, that underpin the S&P 500 performance, which includes Amazon.com, Inc. (NASDAQ:AMZN), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth.”

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 306

Microsoft Corporation (NASDAQ:MSFT) is another big tech company on our list. It is based in Redmond, Washington.

Microsoft Corporation (NASDAQ:MSFT) had 306 hedge funds long its stock in the third quarter, with a total stake value of $72.2 billion.

A Buy rating and a $430 price target were maintained on Microsoft Corporation (NASDAQ:MSFT) by Joseph Bonner at Argus Research on December 5.

Claret Asset Management mentioned Microsoft Corporation (NASDAQ:MSFT) in its third-quarter 2023 investor letter:

“We have mentioned in the last letter that the “magnificent seven”, including Microsoft Corporation, dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”

See also 15 Biggest Retirement Mistakes You Will Regret Forever and 12 High Growth Forever Dividend Stocks.