5 Best Large-Cap Stocks to Buy in 2024

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1. Microsoft Corp (NASDAQ:MSFT)

Number of Hedge Fund Investors: 306

Microsoft Corp (NASDAQ:MSFT) is the most popular stock among the 910 hedge funds tracked by Insider Monkey. As of the end of the third quarter of 2023, 306 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Microsoft Corp (NASDAQ:MSFT). Citi also recommended Microsoft as a top large-cap stock to buy in 2024. Citi sees Microsoft’s EPS at $11.99 in 2024.

Microsoft is generating a lot of praise after posting latest quarterly results. Dan Ives of Wedbush recently said Microsoft Corp (NASDAQ:MSFT) has a huge penetration in the enterprise world where companies and users will implement Microsoft Corp’s (NASDAQ:MSFT) AI technologies.

“With over 60% of the MSFT installed base seeking to implement AI functionality across the entire enterprise and commercial landscape over the next few years based on our estimates, we believe that this is the early innings of a major monetization opportunity as the company doubles down on its AI strategy with its Copilot generate significant demand,” Ives said.

Madison Sustainable Equity Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:

“Microsoft Corporation’s (NASDAQ:MSFT) sustainable scorecard was updated with an unchanged rating of Above Average. The company’s board has an official Environmental, Social, and Public Policy Committee in addition to the traditional Audit, Compensation, and Governance committees. For ten years, Microsoft has publicly released data measuring the diversity of its workforce. With the prominence of Artificial Intelligence (AI), the company has launched a 5-point blueprint for governing AI to address public policy and regulation. Environmentally, Microsoft has multiple programs to be carbon negative by 2030. The company has signed Purchase Power Agreements for carbon-free energy totaling 13.5 Gigawatts.”

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