In this article, we discuss 10 buy-the-dip stocks to buy according to billionaire Ken Fisher.
The tech-heavy Nasdaq Composite is down 27% in 2022 so far, signaling the worst start to a year since crisis-ridden 2020. Mega-cap stocks like Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:FB) and Alphabet Inc. (NASDAQ:GOOG) are down 36%, 42.6%, and 22.44% in the year to date, respectively. But why exactly are investors selling out of mega growth tech stocks that have been Wall Street’s darlings for so long? The answer lies in the current macroeconomic situation, where rising interest rates, sky-high inflation, and geopolitical uncertainty has investors shifting their money towards safe haven assets. These include dividend-paying energy stocks, banking and financial sector companies expected to do good even during a recession, and gold, as evident by gold prices touching multi-year highs in February as the Russian invasion of Ukraine unfolded. Investors right now are scared of putting their money into the technology sector, fearing the sell-off may not be at bottom yet.
This is because consumers are under a crunch, says Megan Horneman, chief investment officer at Verdence Capital Advisors. People have started to pay for food and energy bills with credit cards, she says, on account of inflation touching 40-year highs in the United States. The CPI (Consumer Price Index) jumped 8.3% in April, above the estimated figure of 8.1%. Retail giants Target Corporation (NYSE:TGT) and Walmart Inc. (NYSE:WMT) both reported disappointing Q1 results, citing higher fuel and labor costs. In such a climate, it is understandable why some would want to pull their money from tech stocks and instead focus on safer bets.
Not everybody is riding the same wave of anxiety when it comes to the tech sector. Dan Ives, managing director at Wedbush Securities, believes the current tech sell-off is not worse than the dot.com crash in 2000, and in fact presents a ‘generational buying opportunity’ for the right stocks that could earn investors huge returns in the coming years. He notes that secular trends in the cybersecurity, cloud, artificial intelligence and semiconductor industries in the next few years have the potential to transform the global economy, through what he sees as the 4th Industrial Revolution.
As a famed investor with decades of experience running one of the most successful hedge funds on Wall Street, it’s obvious that Ken Fisher would know which tech stocks to buy at discounted prices. He increased his stakes in multiple tech stocks in the first quarter of 2022. The billionaire’s Fisher Asset Management has $169.5 billion in assets under management (AUM), with a total of 952 stocks. In the first quarter, he made 99 new purchases, increased his position in 442 equities, completely disposed off 89, and reduced holdings in 385 stocks. The top 10 holdings of the firm comprise 31.34% of its total portfolio.
Our Methodology
Ken Fisher’s portfolio for the first quarter of 2022 was examined to find 10 tech stocks that are significantly down in the year-to-date or the last 12 months, and in which the billionaire recently increased his stake.
Best Buy-the-Dip Tech Stocks According to Billionaire Ken Fisher
10. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 110
Fisher Asset Management’s 13F Portfolio: 1.17%
Fisher Asset Management’s Stake Value: $1.99 billion
NVIDIA Corporation (NASDAQ:NVDA) kicks off the list of 10 buy-the-dip tech stocks to buy according to Ken Fisher. As of May 19, the stock is down 43.15% in the year to date, but Fisher Asset Management increased its position in the firm by 44% in the first quarter of 2022, thereby consisting of 7.32 million shares worth $1.99 billion. This represented 1.17% of the fund’s total portfolio.
California-based NVIDIA Corporation deals in the development of computer graphics processors and chipsets used in a range of smart devices. Morgan Stanley analyst Joseph Moore in early May resumed coverage of the firm with an ‘Equal Weight’ rating and $217 price target. Although NVIDIA Corporation remains one of the best growth stocks in the semiconductor space, the analyst is concerned about its high valuation in comparison to peers and a deceleration in its gaming business. He sees a “modestly challenging” 2023 for the firm that should be balanced by its strong exposure to the data center CPU business.
Hedge funds were seen loading up on NVIDIA Corporation stock, given its dominant position in the semiconductor space which has seen continuously growing demand. 110 hedge funds reported bullish bets on the company shares at the close of Q4 2021, in comparison to 83 hedge funds in the previous quarter.
Here is what investment firm RiverPark Funds had to say about NVIDIA Corporation in its Q1 2022 investor letter:
“Nvidia is the leading designer of graphics processing chips (commonly known as GPU’s- graphics processing units), required for powerful computer processing. Over the past 20 years, the company has evolved through innovation and adaptation from a predominantly gaming- focused chip vendor to one of the largest semiconductor/software vendors in the world, dominating the core secular growth markets of gaming, data centers and professional visualization. Over the past decade, the company has grown revenue at a compound annual rate of over 20% while expanding operating margins and, through its asset light business model, producing ever increasing amounts of free cash flow. For 2021 the company generated 61% revenue growth to $27 billion, expanded its EBITDA margins to over 44% and generated over $8 billion of free cash flow. Over the past five years, the company has generated a cumulative $23 billion of FCF after cumulative capital expenditures of less than $4 billion.
We expect future growth to remain robust as NVDA chips and software are critical to many of the core technologies being adopted globally, including cloud computing, virtual reality and advanced artificial intelligence. As with NFLX, we took advantage of the over 40% recent drop in the company’s shares over the last several months to initiate a small position.”
Along with Amazon.com, Inc., Meta Platforms, Inc., and Alphabet Inc., NVIDIA Corporation is a trending tech stock in the portfolio of Ken Fisher.
9. Netflix, Inc. (NASDAQ:NFLX)
Number of Hedge Fund Holders: 113
Fisher Asset Management’s 13F Portfolio: 1.4%
Fisher Asset Management’s Stake Value: $2.38 billion
Netflix, Inc. (NASDAQ:NFLX) is a streaming platform which offers entertainment content through a subscription-based model. It has approximately 220 million paid users, making it the largest streaming platform in the world. Ken Fisher was the most prominent shareholder of Netflix, Inc. in the first quarter of 2022, with 6.35 million shares worth $2.38 billion, representing an increase of 18% in holding over the previous quarter.
On May 16, Wedbush analyst Michael Pachter upgraded Netflix, Inc. ‘Outperform’ from ‘Neutral’, with a $280 price target. He noted that investor confidence in the firm will restore and it will see subscriber growth as soon as it tries to focus on reducing the churn rate by releasing new content over several weeks. He sees the company shares offering an attractive buying opportunity at current levels. In Q1 2022, the company reported losing subscribers for the first time in a decade, pointing towards slowing growth amid market saturation in the streaming space.
For the first quarter, Netflix, Inc. reported earnings per share of $3.53, above expectations by $0.61. Revenue of $7.87 billion was below analysts’ estimates by $75.6 million.
Investors were seen piling into Netflix, Inc. shares at the end of the fourth quarter, where 113 hedge funds held positions in the firm, in comparison to 106 hedge funds a quarter ago.
ClearBridge Investments, an investment firm, talked about Netflix, Inc. in its Q1 2022 investor letter, stating:
“After being a prime beneficiary of increased viewing patterns during the stay-at-home period of COVID-19, Netflix is recalibrating what a normal growth trajectory will look like as global economies fully reopen. The stock fell sharply after the company modestly reduced its net subscriber additions for the current quarter, calling into question its ability to continue to deliver double-digit subscriber growth.
We believe one of our edges as active managers is our long-term orientation and willingness to be both early and patient with additions to the portfolio. With Netflix, we remain convinced that our thesis for owning the stock is intact. While some fear the U.S. streaming market is becoming saturated, Netflix’s penetration of global broadband homes is still less than 50%, a figure that doesn’t even include the opportunity to attract more mobile-only smartphone users.”
8. Meta Platforms, Inc. (NASDAQ:FB)
Number of Hedge Fund Holders: 224
Fisher Asset Management’s 13F Portfolio: 1.46%
Fisher Asset Management’s Stake Value: $2.49 billion
Ken Fisher increased his stake by 17% in Facebook’s parent company Meta Platforms, Inc. in the first quarter of 2022. The billionaire held 11.19 million shares of the firm as compared to 9.58 million shares in the fourth quarter of 2021. The total number of bullish hedge fund bets on the company shares stood at 224 at the close of Q4 2021, down from 248 a quarter ago.
In late April, Evercore ISI analyst Mark Mahaney maintained an ‘Outperform’ rating on Meta Platforms, Inc. shares and decreased the price target to $325 from $350. He sees the firm facing three key issues, namely competition from rival Tiktok, ad platform impairment owing to Apple’s privacy changes, and monetization challenges related to Reels. However, he is confident the firm can address them successfully and thinks shares present a “truly compelling” buying opportunity at current levels. Shares of Meta Platforms, Inc. are down 43.50% in the year to date as of May 19.
Meta Platforms, Inc. posted an EPS of $2.72 for the first quarter, exceeding estimates by $0.21. Quarterly revenue stood at $27.9 billion, below analysts’ forecasts by roughly $314 million.
Investment firm Vulcan Value Partners mentioned many stocks in its Q1 2022 investor letter, and Meta Platforms, Inc. was one of them. The fund said:
“Meta Platforms Inc., the parent company of Facebook, reported excellent operating results in 2021. Its revenue increased 37%, operating earnings increased 40%, and the company generated $40 billion of free cash flow. Despite these excellent results, Meta experienced extreme volatility in its stock price during the first quarter. We believe that two factors are responsible for this volatility. First, the company quantified the headwind to revenue from Apple’s recent privacy changes in the amount of approximately $10 billion for 2022. Meta is rebuilding its advertising technology, and we believe the long-term headwinds from Apple’s privacy changes will be limited because Meta will create a suitable solution. Second, Meta continues to invest heavily into its Reality Labs segment, also known as the metaverse. While we believe the metaverse presents great opportunity for Meta, we are not assigning any value to it in our valuation work. While 2022 may be challenging for Meta, the company’s competitive advantages are still intact, and the company trades at a significant discount to our estimate of its intrinsic value. Despite our concerns about a possible recession, we expect Meta to return to double-digit bottom line growth next year.”
7. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 69
Fisher Asset Management’s 13F Portfolio: 1.57%
Fisher Asset Management’s Stake Value: $2.66 billion
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor firm based in California which manufactures a range of processors, chips and integrated graphics processing units (GPUs). Even though the firm enjoys strong fundamentals, tightening monetary policy in the United States and supply chain issues has led to a decline in recent months. The stock is down 40% from its November 2021 high of $161 per share, currently trading around $96 as of May 19.
Billionaire Ken Fisher bought the dip in Advanced Micro Devices, Inc. shares during the first quarter, reporting a stake worth $2.66 billion which consisted of 24.38 million shares. This was an increase in holding of 23% over the previous quarter, where Fisher owned 19.96 million shares of the semiconductor firm.
On May 17, Piper Sandler analyst Harsh Kumar upgraded Advanced Micro Devices, Inc. to ‘Overweight’ from ‘Neutral’, with a price target of $140, up from $98. The analyst urged investors to “buy good companies when they are down”, noting that AMD’s mid-to-long-term catalysts remain intact amid strong server trends, strong semi-custom trends, and growth in commercial PCs offsetting weakness in consumer PCs.
For the first quarter, Advanced Micro Devices, Inc.’s (NASDAQ:AMD) revenue stood at $5.89 billion, signaling a boost of 70.89% from the year-ago quarter and beating estimates by $313.4 million. EPS was reported at $1.13, above consensus estimates by $0.20.
Of the 900+ elite hedge funds in the database of Insider Monkey, 69 were long Advanced Micro Devices, Inc. shares at the end of December. This shows improving investor confidence in the firm, as 65 hedge funds reported ownership of stakes in the firm at the end of September.
Investment firm Carillon Tower Advisers had this to say about the prospects of Advanced Micro Devices, Inc. in its Q4 2021 investor letter:
“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”
6. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 72
Fisher Asset Management’s 13F Portfolio: 1.61%
Fisher Asset Management’s Stake Value: $2.73 billion
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the largest semiconductor foundry in the world, manufacturing chips for companies such as Apple, Sony, Nvidia and AMD, among others. According to his Q1 2022 portfolio, Ken Fisher owned 26.18 million shares of the firm at a value of $2.73 billion, signaling a 1% jump in holding over the previous quarter.
Shares of Taiwan Semiconductor Manufacturing Company Limited are down 30% in the year-to-date, giving investors an excellent opportunity to buy the company known as the ‘backbone’ of the global semiconductor industry.
On April 4, Morgan Stanley analyst Charlie Chan named Taiwan Semiconductor Manufacturing Company Limited a “catalyst driven idea”, noting that he expects the firm’s Q2 guidance to surpass current consensus estimates. He gave the firm an unchanged ‘Overweight’ rating and a price target of NT$780.
For Q1 2022, Taiwan Semiconductor Manufacturing Company Limited posted earnings per share of $1.40, which was above consensus estimates by $0.09. Quarterly revenue jumped 32.10% year-on-year, coming in at $16.9 billion which exceeded analysts’ forecasts by $634.5 million.
72 hedge funds held positions in the firm at the close of the fourth quarter, with a combined value of $10.99 billion. This is up from 67 bullish hedge fund bets on Taiwan Semiconductor Manufacturing Company Limited shares a quarter ago.
Here is what Wedgewood Partners had to say about Taiwan Semiconductor Manufacturing Company Limited in its Q1 2022 investor letter:
“Taiwan Semiconductor pulled back on geopolitical concerns and periodic market fears about the end of the “cycle” in semiconductors. First, we think the Company might be one of the most – if not the most – important Companies in the world. Taiwan Semiconductor has a near-monopoly on semiconductor processing at advanced nodes, which makes it irreplaceable to customers such as Apple, AMD, NVIDIA, Mediatek, Amazon, and even Intel. Second, much less important manufacturers have more direct geopolitical risk than Taiwan Semiconductor, yet they trade at substantial premiums – both multiple and market cap. For example, Tesla is a heavy manufacturer of only about 1 million automobiles with significant production capacity located in the heart of China, yet it trades at double the market cap of Taiwan Semiconductor. Third, while it is hard to know when the current semiconductor “cycle” will slow or end, we see very few signs of it, as Taiwan Semiconductor continues to generate bookings well in excess of its current capacity – unlike any previous cycle. Taiwan Semiconductor traded to levels that are much too pessimistic given its competitive positioning and opportunity for growth driven by a more robust semiconductor cycle, driven by high-performance computing. As such, we added to our position during the quarter.”
In addition to Amazon.com, Inc., Alphabet Inc. and Meta Platforms, Inc., Taiwan Semiconductor Manufacturing Company Limited is one of the most prominent stocks featuring in billionaire Ken Fisher’s portfolio.
5. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 40
Fisher Asset Management’s 13F Portfolio: 1.75%
Fisher Asset Management’s Stake Value: $2.96 billion
ASML Holding N.V. (NASDAQ:ASML) is up next on Ken Fisher’s list of buy-the-dip tech stocks to buy. It is a provider of semiconductor manufacturing equipment to the world’s leading semiconductor producers. Fisher owned 4.44 million shares of the company in the first quarter of 2022, up 4% from the previous quarter’s stake of 4.27 million shares.
As of May 19, ASML Holding N.V.’s (NASDAQ:ASML) shares have lost 34.04% in the year to date, and currently trade at $526 on the Nasdaq stock exchange. On April 20, Summit Insights analyst KinNgai Chan gave ASML Holding N.V. a ‘Buy’ rating, stating that he views the firm as well-positioned for outperformance in the medium to long term, as demand for its EUV (extreme ultraviolet) tools increases as customers shift towards chips with even higher performance.
40 out of the 900+ hedge funds tracked by Insider Monkey owned positions worth $5.59 billion in ASML Holding N.V. at the close of the fourth quarter. This is down from 41 hedge funds in the previous quarter.
In the first quarter of 2022, ASML Holding N.V.’s (NASDAQ:ASML) quarterly revenue stood at $3.83 billion, outperforming estimates by $87.2 million. EPS of $1.88 was also above estimates by $0.06.
ClearBridge Investments talked about ASML Holding N.V. in its Q1 2022 investor letter. Here’s what the investment firm said:
“During the quarter, we reduced our semiconductor exposure through the trim of ASML (NASDAQ:ASML) to manage concerns of a slowdown due to the risk of double ordering and potential softness in some consumer end markets. We increased our position in IT services with the purchase of Accenture as we remain optimistic about the long-term growth potential these companies provide, which is underpinned by the compressed digital transformation cycle, rising cloud adoption and growth in data-driven insights.
Despite the market volatility and hyper focus on rising rates, chief information officer surveys continue to forecast resilience in IT budgets this year. Growth in IT spending for 2022 is expected to remain above the 10-year pre-COVID-19 average, according to Morgan Stanley. We believe this is a result of the strong secular underpinnings brought on by digital transformation and businesses focusing on increasing efficiencies through technology.”
4. salesforce.com, inc. (NYSE:CRM)
Number of Hedge Fund Holders: 110
Fisher Asset Management’s 13F Portfolio: 1.9%
Fisher Asset Management’s Stake Value: $3.23 billion
salesforce.com, inc. (NYSE:CRM) is the world’s leading cloud-based customer relationship management software, which is used to administer and analyze a company’s interactions with its customers. Its shares are down 39% as of May 19, but Ken Fisher knows how to spot a market leader trading below value and increased his stake in the company by 5% in the first quarter, thereby consisting of 15.23 million shares valued at $3.23 billion.
Roth Capital analyst Richard Baldry on May 18 upgraded salesforce.com, inc. (NYSE:CRM) to ‘Buy’ from ‘Neutral’ with a $242 price target. Mizuho analyst Gregg Moskowitz also gave the firm a ‘Buy’ rating with a price target of $225, down from $295. Although the sell-off in tech has gotten worse in recent weeks, Moskowitz sees good overall demand in software, particularly for digital transformation and/or security projects. He reduced the price target to reflect the uncertainty in the current macro backdrop.
110 hedge funds were long salesforce.com, inc. (NYSE:CRM) at the end of the fourth quarter of 2021, as compared to 119 hedge funds at the end of the third quarter. The total value of Q4 hedge fund holdings was recorded at $11.45 billion.
Investment firm Oakmark Fund talked about various stocks in its Q1 2022 investor letter, and one of them was salesforce.com, inc. (NYSE:CRM). Here’s what the fund said:
“Over the past 20 years, Salesforce (NYSE:CRM) has become a dominant global player in sales, customer service, commerce and marketing software. CRM earns 80% gross margins, grows 20% organically and virtually all of its revenue is recurring. It’s a great business that we’ve admired from afar for a long time. More recently, the organization has made some changes at the top that prompted us to take a closer look at the stock. New CEO Bret Taylor and CFO Amy Weaver are bringing a culture of financial discipline. We believe this renewed focus on profitability, combined with Salesforce’s strong underlying business characteristics, will yield strong results. The current valuation of 5x next year’s revenues represents a significant discount compared to publicly traded comparables and private market values in the software space. We view this discount as an opportunity to invest in a great business at a good value.
3. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 158
Fisher Asset Management’s 13F Portfolio: 3.32%
Fisher Asset Management’s Stake Value: $5.63 billion
In the first quarter of 2022, Fisher Asset Management bought an additional 90,000 shares of Alphabet Inc., bringing his total stake in the tech firm to 2.02 million shares with a price tag of $5.63 billion.
On April 27, Jefferies analyst Brent Thill gave Alphabet Inc. a ‘Buy’ rating, noting that the firm saw solid growth in its Google Search and Cloud services business. However, he decreased the price target to $3,400 from $3,600, noting below expectations ad revenue from Youtube for three consecutive quarters. The analyst also decreased his 2022 estimates for operating margin, gross and net revenue and earnings per share.
For the first quarter of 2022, Alphabet Inc. reported an EPS of $24.62, missing consensus estimates by $0.93. Quarterly revenue of $68 billion saw a growth of 22.95% year-on-year, and beat analysts’ forecasts by $124.6 million.
Out of all the hedge funds tracked by Insider Monkey at the close of the fourth quarter, 158 held positions in Alphabet Inc.. This shows a positive trend from the previous quarter where 156 hedge funds reported ownership of stakes in the tech firm.
Baron Funds, an investment firm, discussed the market position of Alphabet Inc. in its Q1 2022 investor letter. The fund said:
“We have modestly reduced the size of our position in Alphabet Inc. (from 6.5% at the end of the fourth quarter of 2021 to 5.3% as of the end of the first quarter of 2022), after the stock rallied 64% in 2021 and continued outperforming during the first quarter, declining just 3%.”
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 279
Fisher Asset Management’s 13F Portfolio: 4.54%
Fisher Asset Management’s Stake Value: $7.70 billion
Amazon.com, Inc. is the third largest holding of Ken Fisher according to his Q1 2022 portfolio. The billionaire owns 2.36 million shares of the firm at a value of $7.70 billion, signaling a increase in holding of 10% over the previous quarter where his portfolio contained 2.17 million shares of the firm.
On April 29, UBS analyst Lloyd Walmsley reiterated a ‘Buy’ rating on Amazon.com, Inc. shares, noting that it remained a compelling choice for consumers in the current inflationary climate given its product selection, price and quick delivery. He sees Amazon trading at an attractive valuation of 50.2x earnings and 13.6x expected EBITDA for 2023.
Stifel analyst Scott Devitt also gave Amazon.com, Inc. a ‘Buy’ rating, and lowered the price target to $3,800 from $4,400, noting that the company’s near-term positioning is likely to be clouded by the impact of inflation, but the recent share price decline offers a good entry point for investors.
Amazon.com, Inc. was the most widely-held stock of all the hedge funds tracked by Insider Monkey. 279 hedge funds reported bullish bets on the company shares at the end of the fourth quarter, up from 242 hedge funds a quarter ago.
Here is what Miller Value Partners, an investment firm, had to say about Amazon.com, Inc. in its Q1 2022 investor letter:
“For frame of reference, Amazon (NASDAQ:AMZN) bottomed at the same valuation in the financial crisis (side note: Amazon bottomed at 4x EV/GP after the tech bubble burst)! So there’s historical precedent for the lows being in. We will see whether that holds true this time. Regardless, we think there’s significant upside over a 5-year time horizon. The one other topic I want to briefly address is our volatility. We hope to write something about the topic in more depth in the future, but we want our clients and prospective investors to understand our views on it. We think that volatility is significantly misunderstood. We believe it creates opportunities from which we can profit.”
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 262
Fisher Asset Management’s 13F Portfolio: 5.06%
Fisher Asset Management’s Stake Value: $8.59 billion
In the first quarter of 2022, Fisher Asset Management held 27.87 million shares of Microsoft Corporation (NASDAQ:MSFT) worth $8.59 billion, representing 5.06% of the portfolio’s total value and making it the firm’s biggest shareholder. This was an increase of 4% over the previous quarter where the fund held 26.84 million shares of the firm.
On May 13, Tigress Financial analyst Ivan Feinseth reiterated a ‘Buy’ rating on Microsoft Corporation shares, saying he views the recent share price losses as a “major buying opportunity.” Growth in cloud is driving strong business performance, according to the analyst, who also sees Microsoft emerging as a big player in the gaming industry and expanding into the ‘metaverse’ with its acquisition of Activision Blizzard (NASDAQ:ATVI).
Popular hedge funds held major stakes in Microsoft Corporation at the close of Q4 2021, with 262 reporting bullish bets on the company shares with an aggregate value of $75.7 billion.
Microsoft Corporation reported its Q1 2022 earnings on April 26, and posted an EPS of $2.22, beating estimates by $0.02. The quarterly revenue stood at $49.4 billion, outperforming analysts’ forecasts by $311.2 million.
Investment firm Motiwala Capital talked about many stocks in its Q4 2021 investor letter, and Microsoft Corporation was one of them. The fund said:
“Microsoft (NASDAQ:MSFT) re-enters our portfolio after a long gap. MSFT sells enterprise and consumer software products as well as hardware products such as the Xbox video game console and Surface laptops. All business segments experienced double-digit revenue growth and earnings per share have compounded in the mid-double digits over the last 5 years. We believe MSFT continues this momentum in the years ahead.”
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