In this article, we discuss the 5 best US stocks for foreign investors. If you want to read about some more US stocks that foreigners should consider for their portfolios, go directly to the 14 Best US Stocks For Foreign Investors.
5. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 146
Quarterly Revenue Growth: 15.44%
Based in San Francisco, California, Uber Technologies, Inc. (NYSE:UBER) operates tech platforms connecting consumers with independent ride service providers, extending its reach to various transportation modes like public transit, bikes, and scooters. Additionally, Uber offers on-demand food delivery, freight services, business fleet solutions, and same-day delivery options, serving over 142 million monthly active platform consumers across 70 countries.
In Q4 2023, Uber reported a 22% year-over-year increase in gross bookings, totaling $37.6 billion, with trips growing by 24% year-over-year to 2.6 billion. This translates to an average of approximately 28 million trips per day. On February 7, Uber Technologies, Inc. (NYSE:UBER) announced a Q4 GAAP EPS of $0.66 and revenue of $9.9 billion, surpassing Wall Street estimates by $0.49 and $140 million, respectively.
Insider Monkey’s Q3 database revealed bullish sentiment from 146 hedge funds towards Uber Technologies, Inc. (NYSE:UBER), compared to 144 funds in the previous quarter. The largest stakeholder, Brad Gerstner’s Altimeter Capital Management, holds 13.3 million shares valued at $613.35 million.
4. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 163
Quarterly Revenue Growth: 14.30%
Alphabet Inc. (NASDAQ:GOOG), a prominent player in the technology sector, is best known for its flagship product, Google, a search engine handling billions of daily queries. The company’s portfolio extends to various platforms for video streaming and productivity, with YouTube being a standout asset. Moreover, Alphabet Inc. (NASDAQ:GOOG) is engaged in the retail of electronic devices, offering a range of products including smartphones, ultra-thin notebooks, and speakers.
As of the close of the third quarter of 2023, 163 hedge funds held stakes in Alphabet Inc. (NASDAQ:GOOG). The most significant stakeholder in the company during this period was Ken Fisher’s Fisher Asset Management, which owns a $5.72 billion stake in Alphabet Inc. (NASDAQ:GOOG).
Ensemble Capital Management made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2023 investor letter:
“Alphabet Inc. (NASDAQ:GOOG) (+9.32%): Separate from all the discussion of artificial intelligence, Google’s core Search business, having experienced a significant slowdown in 2022, now shows clear signs of reacceleration. While the future of AI and its impact on Google is still subject to a healthy debate, the company seems to have put to bed investor concerns about any rapid negative impact. With Search revenue growth accelerating, and the company rolling out lots of new AI tools, the investor panic from the beginning of the year about AI immediately hurting Google appears to have been overblown.”
3. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 180
Quarterly Revenue Growth: 205.51%
NVIDIA Corporation (NASDAQ:NVDA), an American multinational technology company based in Delaware, is renowned for its prowess in integrated circuit development. Its expertise extends across a wide array of devices, ranging from electronic game consoles to personal computers (PCs). With its stock surging by over 230% in 2023, NVIDIA Corp (NASDAQ:NVDA) continues to reach unprecedented highs, fueled by its dominant position in the market for advanced AI chips.
Insider Monkey’s analysis of hedge fund portfolios for Q3 2023 uncovered that 180 hedge funds had a stake in NVIDIA Corporation (NASDAQ:NVDA). Among them, Citadel Investment Group emerged as the largest stakeholder, with holdings of approximately 21.85 million shares valued at around $9.5 billion in NVIDIA Corporation (NASDAQ:NVDA).
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 286
Quarterly Revenue Growth: 13.91%
Amazon.com, Inc. (NASDAQ:AMZN), a prominent American multinational technology company, encompasses a diverse range of business interests, including e-commerce, cloud computing through Amazon Web Services (AWS), online advertising, digital streaming, and artificial intelligence. The company’s e-commerce platform is well-diversified, offering a wide range of products, including gourmet food, groceries, apparel, baby products, consumer electronics, beauty products, and more.
Insider Monkey’s database indicates that a total of 286 elite hedge funds held positions in Amazon.com, Inc. (NASDAQ:AMZN) stock, with a collective stake value of $38.8 billion. This represents an increase from the 278 hedge funds that collectively held a stake valued at $34.9 billion previously. Notably, Ken Fisher’s Fisher Asset Management emerged as the most significant stakeholder in the company, with 41.35 million shares valued at $5.25 billion.
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 306
Quarterly Revenue Growth: 17.58%
Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a leading technology company renowned for its wide range of products and services. These offerings span operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games.
Microsoft Corporation (NASDAQ:MSFT) garnered accolades from Wall Street after reporting December quarter results on January 31 that surpassed expectations. The favorable reception indicates that the benefits the company is reaping from artificial intelligence are only just beginning to unfold. Notably, AI played a pivotal role in driving a six-percentage-point growth for Azure in the quarter, resulting in a 30% overall growth rate, which exceeded the company’s earlier guidance.
Insider Monkey’s third-quarter database revealed that 306 hedge funds expressed bullish sentiment towards Microsoft Corporation (NASDAQ:MSFT), compared to 300 funds in the previous quarter. Leading the pack is the Bill & Melinda Gates Foundation Trust, holding 39.2 million shares valued at $12.4 billion in the company.
You can also take a look at Jim Cramer is Recommending These 10 Stocks and 10 Best Tech Stocks for the Next 5 Years
