5 Best Tech Stocks to Buy According To Billionaire Laffont

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1. NVIDIA Corporation (NASDAQ:NVDA)

Coatue Management’s Stake Value: $1.96 Billion
Percent of Portfolio: 9.62%
Number of Hedge Fund Holders: 175

NVIDIA Corporation (NASDAQ:NVDA) has been one of the best tech stocks to buy, according to billionaire Laffont, in an artificial intelligence-engineered market rally. The stock has outperformed the overall market, going by the 200% plus rally year to date. The rally has come on the company affirming its status as the go-to company for graphics processing units in high demand for use in enabling artificial intelligence innovations and tools.

NVIDIA Corporation (NASDAQ:NVDA)’s chips are in high demand amid the burgeoning AI landscape. The dominant chipmaker delivered $13.5 billion in revenues compared to the $11.2 billion analysts expected and more than double the $6.7 billion delivered last year. Earnings, on the other hand, came in at $2.70 a share versus $2.09 expected.

Hedge funds were quite bullish on NVIDIA Corporation (NASDAQ:NVDA) in the second quarter of 2023. The number of hedge fund holders of the company increased from 132 in Q1 2023 to 175 in Q2 2023. Rajiv Jain’s GQG Partners is the most significant shareholder of the company, with shares worth $5.90 billion.

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