In this article, we will take a look at the 5 best most active stocks to buy now. To read our analysis of the recent trends, and market activity, you can go to the 14 Best Most Active Stocks to Buy Now.
5. NVIDIA Corporation (NASDAQ:NVDA)
Average 3-month Volume: 45.72 million
Number of Hedge Fund Holders: 180
NVIDIA Corporation (NASDAQ:NVDA) is a leading technology company focused on the design and manufacturing of accelerated computing hardware and software products. Its core businesses comprise of Gaming, Data Center, Professional Visualization, and Automotive, with Gaming and Data Center making up for more than 80% of its revenues.
NVIDIA Corporation (NASDAQ:NVDA) has had a stellar year so far with share price up more than 230% year-to-date as of November 27. Much of this can be attributed to record growth in top and bottom line figures led by increased demand for its data center products to cater to the AI-induced demand.
NVIDIA Corporation (NASDAQ:NVDA) posted a revenue of $18.1 billion in Q3, 206% more than a year ago and $2.0 billion more than consensus. Its normalized EPS of $4.02 surpassed consensus by $0.63.
Hedge funds are also bullish about NVIDIA Corporation (NASDAQ:NVDA) shares as the number of hedge funds that own its shares has increased from 106 in Q1 to 180 in Q3 2023. These hedge funds together held shares worth $29.6 billion according to Insider Monkey data.
4. Amazon.com, Inc. (NASDAQ:AMZN)
Average 3-month Volume: 52.95 million
Number of Hedge Fund Holders: 286
Amazon.com, Inc. (NASDAQ:AMZN), is a multinational technology company operating online and physical stores where it sells its own products as well as allows third-party sellers to sell their products to consumers. It manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, and Ring, and develops and produces media content; and provides cloud computing services through Amazon Web Services platform.
Amazon.com, Inc. (NASDAQ:AMZN) is highly sought after by hedge funds as 286 out of the 910 hedge funds tracked by Insider Monkey held its shares with a total value of $38.9 billion, as of Q3 2023.
In its Polen Global Growth Q3 investor letter, Polen Capital, an investment management firm, made the following comments about Amazon.com, Inc. (NASDAQ:AMZN):
“Amazon continues to showcase its place as one of the most competitively advantaged companies in the world. The company has made significant progress in managing costs and better leveraging existing capacity, driving a strong recovery in its profitability. We think there’s additional room for improvement. AWS growth seems to be stabilizing even while management continues to work with clients to optimize their infrastructure spend. Roughly 90% of global IT spending remains on premise. We believe this will eventually flip, with most IT spending ultimately moving to the cloud over time. We think AWS will be a significant beneficiary of this transition. [. . .] At Amazon’s current price, we believe the company is well positioned to deliver a mid-teens or higher total shareholder return for our clients over the next five plus years without a Herculean effort from the business. It simply needs to continue executing on current businesses and growing into the capacity it built during and immediately after the pandemic.”
3. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Average 3-month Volume: 53.88 million
Number of Hedge Fund Holders: 110
Based in Santa Clara, California, Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company using high-performance computing, graphics, and visualization technologies to provide computing solutions for cloud, edge, and end devices.
On June 14, Advanced Micro Devices, Inc. (NASDAQ:AMD) unveiled new EPYC processors for cloud native and technical computing for data centers. The company also revealed its AI Platform strategy which includes MI300 Series accelerator family, as well as software solutions.
On October 10, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced the signing of a definitive agreement to acquire Nod.ai to expand the company’s open AI software capabilities. Earlier this year in August, the company acquired Mipsology, and AI software company with proven expertise delivering AI software and solutions running on top of AMD adaptive computing silicon.
As of Q3 2023, 110 hedge funds tracked by Insider Monkey held shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), worth $9.2 billion. Ken Fisher’s Fisher Asset Management is its largest hedge fund shareholder with ownership of 27.8 million shares valued at $2.9 billion.
2. Apple Inc. (NASDAQ:AAPL)
Average 3-month Volume: 58.06 million
Number of Hedge Fund Holders: 134
Apple Inc. (NASDAQ:AAPL) is a leading technology company focused on the designing, manufacturing, and marketing of smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. It released worldwide the latest version of its flagship smartphone titled iPhone 15, on September 22 earlier this year. Sales for the models have remained strong in the early period and analysts expect positive results from the release.
The quarterly revenue of Apple Inc. (NASDAQ:AAPL) once again declined by 1% on a y-o-y basis in the quarter ended September 30. The company posted a revenue of $89.5 billion and a net income of $23 billion, which translated to an adjusted EPS of $1.46.
As of Q3 2023, Apple Inc. (NASDAQ:AAPL) shares were held by 134 of the 910 hedge funds tracked by Insider Monkey with the total shares held by hedge funds valued at a whopping $179 billion. Warren Buffet’s Berkshire Hathaway was its biggest shareholder with ownership of 915.6 million shares valued at $157 billion.
In its Baron Technology Fund Q3 2023 investor letter, Baron Funds, an investment management firm, made the following comments about Apple Inc. (NASDAQ:AAPL):
“Despite [the] quarterly fluctuations in product sales, we are encouraged by several long-term trends, including: (1) revenue from higher-margin services like the App Store, iCloud, and Apple Pay, which are growing faster than the overall business, driving better revenue visibility and higher free-cash-flow (FCF) margins; (2) continued gains in global market share in smartphones, wearables, and other hardware categories; and (3) consistent returns of capital to shareholders via share repurchases and dividends. On top of these trends in the core business, Apple is thoughtfully investing in new categories like augmented reality, search, financial services, and streaming media content. We took advantage of weakness in the quarter to add to our position in Apple.”
1. Tesla, Inc. (NASDAQ:TSLA)
Average 3-month Volume: 121.03 million
Number of Hedge Fund Holders: 81
Based in Austin, Texas, Tesla, Inc. (NASDAQ: TSLA), designs, develops, manufactures, sell and leases fully electric vehicles and energy generation and storage solutions. Its current portfolio of products includes Model 3 and Model S sedans, Model Y and Model X SUVs, while upcoming products include Cybertruck, Tesla Roadster and Tesla Semi – a light commercial vehicle.
Tesla, Inc. (NASDAQ: TSLA) produced 430,488 vehicles in Q3 2023 and delivered more than 435,000 vehicles during the same period. The company has six large scale manufacturing facilities across the world, including its first plant in California, and gigafactories across Nevada, New York, Shanghai, Texas, and Berlin.
Tesla, Inc. (NASDAQ:TSLA) is the best most active stock to buy now based on average 3-month trading volume. Its shares were held by 81 hedge funds with total value of $5.8 billion, as of September 30. Cathie Wood’s ARK Investment Management, and Philippe Laffont’s Coatue Management are the biggest shareholders of the company with ownership of nearly $1.0 billion worth of shares, each.
You may also like to read Warren Buffett Sees Big Gains in These Small-Cap Stocks and 10 Top Stock Picks of Israel Englander
