5 Best Stocks In Each Sector

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1. Microsoft Corporation (NASDAQ:MSFT)

Sector: Information Technology

Number of Hedge Fund Holders: 269

The information technology sector consists of companies that develop software for the internet, databases, and home entertainment, as well as businesses that handle data and offer outsourced services in the field of information technology. It also includes manufacturers and distributors of hardware such as computers and peripherals, communication equipment like mobile phones, and other IT-related products like semiconductor equipment.

Founded in 1975, Microsoft Corporation (NASDAQ:MSFT) is a technology company based in Redmond, Washington. The company is best known for its operating systems, such as Windows, and its productivity software, such as Microsoft Office. However, the company has a wide range of products and services, including cloud computing, artificial intelligence, and gaming.

On October 26, 2022, Brad Reback, an analyst at Stifel, reduced his price target on Microsoft Corporation (NASDAQ:MSFT) to $290 while keeping a Buy rating on the stock. According to the analyst, the company’s management is confident that the business can grow its sales by double digits in constant currency in FY23.

According to Insider Monkey’s database, 269 hedge funds owned stakes in the company at the end of the September quarter. Bill & Melinda Gates Foundation Trust held the biggest stake in Microsoft Corporation (NASDAQ:MSFT) at the end of Q3 2022.

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