This article presents an overview of the 5 Best Robinhood Stocks According to Billionaires. For a detailed overview of such stocks, read our article, 11 Best Robinhood Stocks According to Billionaires.
5. NVIDIA Corp (NASDAQ:NVDA)
Number of Billionaire Investors: 29
One of the obvious names in our list of the best Robinhood stocks is NVIDIA Corp (NASDAQ:NVDA), which has nothing but glory days ahead due to the huge growth in AI chips demand. Both retail investors and billionaires have been piling into the stock to ride the AI wave.
Citi recently opened a 30-day catalyst watch on NVIDIA Corp (NASDAQ:NVDA) as it believes the stock can rally more in the short-term on upcoming catalysts.
“Our supply chain discussions indicate a stronger-than-expected CY2024 GPU unit outlook of 3.7M+ vs. our 3.2M forecast. A strong 2024 unit outlook implies accelerating US hyperscale cloud capex next year and faster-than-expected adoption of NVDA’s upcoming H200 and B100 GPUs,” Citi analysts Atif Malik and Papa Sylla said in a note.
Here is what White Brook Capital has to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes NVIDIA Corporation (NASDAQ:NVDA), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”
4. Meta Platforms Inc (NASDAQ:META)
Number of Billionaire Investors: 32
Meta Platforms Inc (NASDAQ:META) is also among the stocks that stand to benefit from the AI revolution. Meta Platforms Inc (NASDAQ:META) already impressed the Wall Street with its financial numbers and growth earlier this year as Mark Zuckerberg’s plan to use AI to boost Reels engagement and improve recommendation algorithm seems to be working.
Oppenheimer recently released its AI predictions report in which it said companies would improve generative AI models and make them more efficient, which would result in cost declines. The firm said this phenomenon would help Meta Platforms, in addition to some other major stocks.
A total of 32 billionaires had stakes in Meta Platforms Inc (NASDAQ:META) as of the end of the third quarter of 2023. Some famous billionaires with stakes in Meta Platforms Inc (NASDAQ:META) were Rajiv Jain, Ken Fisher, Andreas Halvorsen and DE Shaw.
Here is what Claret Asset Management has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q3 2023 investor letter:
“We have mentioned in the last letter that the “magnificent seven”, including Meta Platforms Inc.,dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”
3. Amazon.com Inc (NASDAQ:AMZN)
Number of Billionaire Investors: 33
Goldman Sachs recently released a report which talks about the top stocks that will benefit in 2024 due to the AI wave. Amazon.com Inc (NASDAQ:AMZN) is among the biggest beneficiaries of AI trends, according to the firm.
A total of 33 billionaires in Insider Monkey’s database had stakes in Amazon.com Inc (NASDAQ:AMZN) as of the end of the third quarter of 2023. Some notable billionaires having stakes in Amazon.com Inc (NASDAQ:AMZN) are Ken Fisher, Rajiv Jain, Warren Buffett and Andreas Halvorsen.
Here is what White Brook Capital has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes Amazon.com, Inc. (NASDAQ:AMZN), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth.”
2. Alphabet Inc Class C (NASDAQ:GOOG)
Number of Billionaire Investors: 34
When ChatGPT was launched by OpenAI, many said Alphabet Inc Class C (NASDAQ:GOOG) was a laggard in the AI race. But if anything, the generative AI race started by Microsoft Corp (NASDAQ:MSFT) gave a nudge to Alphabet Inc Class C (NASDAQ:GOOG) to get its act together and unleash its potential. Analysts at Citi recently said the company’s AI model Gemini will be a growth catalyst for the stock in 2024. They believe the LLM “levels the playing field across the broader GenAI landscape based on its ability to understand data across types.”
Here is what White Brook Capital has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes Alphabet Inc. (NASDAQ:GOOG), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”
1. Microsoft Corp (NASDAQ:MSFT)
Number of Billionaire Investors: 34
Microsoft Corp (NASDAQ:MSFT) tops our list of the best Robinhood stocks according to billionaires. Microsoft Corp (NASDAQ:MSFT) stock is gaining a lot of popularity among retail investors on Robinhood and Reddit, while the stock is the most popular among the 910 elite hedge funds tracked by Insider Monkey.
A total of 34 billionaires had stakes in Microsoft Corp (NASDAQ:MSFT) as of the end of the September quarter.
Here is what White Brook Capital has to say about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes Microsoft Corporation (NASDAQ:MSFT), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”
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