5 Best Tech Stocks to Buy According to Stanley Druckenmiller

1. Microsoft Corporation (NASDAQ: MSFT)

Number of Hedge Fund Holders: 238

Microsoft Corporation (NASDAQ: MSFT) is ranked first on our list of 10 best tech stocks to buy according to Stanley Druckenmiller. The firm is headquartered in Washington and operates as a technology company focusing on software products. According to the latest filings, Duquesne Capital owned 1.5 million shares in the firm at the end of the second quarter of 2021, representing 11.72% of the portfolio. These shares are worth more than $408 million. Druckenmiller has reduced Duquesne’s stake in the firm by 30% as compared to the first quarter.

On August 20, investment advisory UBS kept a Buy rating on Microsoft Corporation (NASDAQ: MSFT) stock and raised the price target to $350 from $325, noting the commercial price increase in a key product marketed by the firm as the reason behind the improved outlook. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ: MSFT)  with 24.8 million shares worth more than $6.7 billion.

In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ: MSFT) was one of them. Here is what the fund said:

“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”

You can also take a peek at 10 Companies that Benefit From Crypto Mining and 10 Best Stocks to Buy According to Michael Burry.

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