5 Best Gaming Stocks To Buy Now

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1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 160

Alphabet Inc. (NASDAQ:GOOG) is the parent company of Google and Google subsidiaries. Google Cloud is frequently used for multi-player gaming experiences and developers employ it to enhance data insights and streamline infrastructure. In addition to that, Alphabet Inc. (NASDAQ:GOOG) owns DeepMind Technologies, a British artificial intelligence company that has created products like AlphaGo, AlphaStar, and AlphaZero. These products mimic human moves while playing video games like go, chess, and shogi. 

On June 29, JPMorgan analyst Doug Anmuth reaffirmed an Overweight rating on Alphabet Inc. (NASDAQ:GOOG) but lowered the price target on the stock to $2,800 from $3,200. According to the analyst, the Internet sector continues to achieve secular growth, but it is far more mature as compared to 2008-2009. However, he believes demand-side expectations and most stock prices “already reflect a softer macro environment”.

According to Insider Monkey’s data, Alphabet Inc. (NASDAQ:GOOG) was found in 160 hedge fund portfolios at the end of Q1 2022, up from 158 funds in the preceding quarter. Chris Hohn’s TCI Fund Management is one of the leading shareholders of the company, with a position worth $6.62 billion. 

Here is what Farrer Wealth Advisors said about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2022 investor letter:

“Alphabet: We won’t waste much time trying to explain to our clients why Alphabet is such a phenomenal business, we believe that is quite self-evident. The better explanation is why we never bought Alphabet before. The reason was a personal bias we held based on three beliefs (which we now believe to be incorrect)

Growth in YouTube would stall as the increased ad-load would turn-off viewers (the double ad-load at the beginning of videos for example). Consumers will focus on discovery rather than search to purchase new items. For example – using Instagram/TikTok to decide what new clothes to buy instead of ‘googling’ for clothes. Other Bets: In general, we felt that capital spent on “Other Bets” has been a bit wasteful with the segment earning just around $3.1bn in revenue versus nearly $21bn in operating losses over the last five years…” (Click here to see the full text)

You can also take a look at 10 Dividend Stocks to Buy According to Bryan Hinmon’s Motley Fool Asset Management and Bill Gates’ Latest Stock Portfolio: Top 10 Picks

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