5 Best Quantum Computing Stocks To Buy Now

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 300

Microsoft Corporation (NASDAQ:MSFT) Azure Quantum is working on making improvements in every aspect of quantum computing, from the software and applications to the control and the actual hardware. The company also aims to develop topological qubits that are more reliable and can be used in powerful quantum computers. Microsoft Corporation (NASDAQ:MSFT) is one of the best quantum computing stocks to invest in. On October 16, Microsoft initiated a program where eligible holders can swap their Activision Blizzard notes for up to $3.65 billion worth of new notes and cash.

According to Insider Monkey’s second quarter database, 300 hedge funds were long Microsoft Corporation (NASDAQ:MSFT), up from 289 funds in the last quarter. Bill & Melinda Gates Foundation Trust held the biggest position in the company, comprising 39.2 million shares valued at $13.3 billion. 

ClearBridge Value Equity Strategy made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q2 2023 investor letter:

“We initiated a small position in Microsoft Corporation (NASDAQ:MSFT) during the quarter, which may seem surprising given our concerns about index concentration. However, we seized the opportunity on a compelling entry point below our business value estimate, due to an anticipated acceleration of demand for Microsoft’s Azure cloud business and incremental revenues from integration of Microsoft’s AI Copilot program into its office platform. We believe this could support double-digit growth, while simultaneously solidifying Microsoft’s competitive position as an AI winner. Even as a small position, we believe Microsoft provides a large portfolio construction benefit given low correlation to the rest of the portfolio.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 20 Best E-Commerce Platforms for Small Businesses in 2023 and 11 Cheap Chinese Penny Stocks to Buy According to Hedge Funds.