5 Best Major Stocks to Buy Now

In this piece, we will take a look at the five best major stocks to buy now. If you want to take a look at why major stocks are important for the 2023 stock market rally, take a look at 12 Best Major Stocks to Buy Now.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors In Q1 2023: 132

A fitting start to the second part of our list is NVIDIA Corporation (NASDAQ:NVDA). The firm has emerged as a key player in the artificial intelligence industry, with its products proving indispensable when it comes to powering up large scale systems. NVIDIA scored another big win in June when the well known semiconductor research firm Daiwa upgraded the firm’s share rating to Outperform from Neutral.

By the end of this year’s first quarter, 132 out of the 943 hedge funds part of Insider Monkey’s database had bought a stake in NVIDIA Corporation (NASDAQ:NVDA). Out of these, the firm’s largest shareholder is Ken Fisher’s Fisher Asset Management with a $2.7 billion investment.

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Investors In Q1 2023: 155

Kicking off big tech’s entry into the list of best major stocks is Alphabet Inc. (NASDAQ:GOOG). A household name, the company silently developed a quantum supercomputer in June 2023 which is capable of beating existing ones by 47 years in calculation time.

Insider Monkey’s research of 943 hedge fund portfolios for 2023’s March quarter revealed that 155 had invested in the company. Ken Fisher’s Fisher Asset Management is Alphabet Inc. (NASDAQ:GOOG)’s largest investor through owning $4.3 billion worth of shares.

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

Number of Hedge Fund Investors In Q1 2023: 220

After a tough year on the stock market in 2022, Meta Platforms, Inc. (NASDAQ:META) has bounced back remarkably well this year with close to 200% in share price gains. It is now looking to take on Twitter in the social media scene, by launching its own platform connected with Instagram.

220 of the 943 hedge funds part of Insider Monkey’s database had bought and owned Meta Platforms, Inc. (NASDAQ:META)’s shares as of Q1 2023. Out of these, the firm’s largest shareholder is Philippe Laffont’s Coatue Management with a $1.7 billion stake.

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

Number of Hedge Fund Investors In Q1 2023: 243

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest electronic commerce retailer. Compared to its other mega cap peers, the firm’s shares have been rather muted this year, having posted ‘only’ 51% in price gains.

By the end of 2023’s March quarter, 243 out of the 943 hedge funds polled by Insider Monkey had held a stake in the retailer. Amazon.com, Inc. (NASDAQ:AMZN)’s biggest hedge fund investor is Ken Fisher’s Fisher Asset Management through a $4.2 billion investment.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Investors In Q1 2023: 289

A fitting end to the list of major stocks is Microsoft Corporation (NASDAQ:MSFT). A highly diversified technology company, it sells computers, operating systems, productivity software, headsets, and cloud computing. Like Amazon, its shares have lagged behind peers this year and appreciated by 41% – mostly in line with the NASDAQ 100.

289 of the 943 hedge funds part of Insider Monkey’s Q1 2023 database had invested in Microsoft Corporation (NASDAQ:MSFT). Michael Larson’s Bill & Melinda Gates Foundation Trust is the largest shareholder with a $11 billion stake.

Disclosure: None. You can also take a look at 10 Dirt Cheap Stocks To Buy and 11 Most Undervalued Foreign Stocks To Buy.

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