13 Most Buzzing Stocks To Buy Now

Published January 23, 2024 at 5:08 pm EST Updated August 31, 2026 at 8:49 pm EDT

In this article, we will take a detailed look at the 13 Most Buzzing Stocks To Buy Now.

Investors are still deeply divided over what the future might look like for the stock market in the weeks and months to come. While the bulls believe a soft landing is in sight, doubts remain over the Federal Reserve’s possible plan of action regarding rate cuts as inflation remains sticky. A latest Wall Street Journal report cited CME FedWatch tool data which says there is now a 50% chance the central bank keeps interest rates unchanged during its March meeting. When 2024 was about to start this figure stood at just 3.85%. The optimism seen in the last quarter of 2023 was overwhelming and proved to be fickle. The WSJ report also said, citing swap contracts tied to the consumer-price index, that traders now see inflation at 2.4% over the next five years, the highest level since November. This shows we might be in for a long period of elevated inflation and high interest rates. In this environment, would mega-cap tech stocks like Amazon.com Inc (NASDAQ:AMZN), NVIDIA Corp (NASDAQ:NVDA) and Apple Inc (NASDAQ:AAPL) which posted euphoric gains in 2023 be able to keep going higher? Only time would tell. For now let’s take a look at the stocks that are trending these days.

Luis Louro / shutterstock.com

Methodology

Amid earnings, the beginning of the election buzz and upcoming economic data, it’s interesting to see which stocks are currently trending in terms of high volume. For this article we used Yahoo Finance’ stock screener which looks for mid-, small- and large-cap stocks with high trading volume and movement. From these stock we selected stocks with the highest number of hedge fund investors. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

13. Marathon Digital Holdings Inc (NASDAQ:MARA)

Number of Hedge Fund Investors: 13

Crypto mining and digital assets company Marathon Digital Holdings Inc (NASDAQ:MARA) has gained about 80% in value over the past one year amid a rebound in bitcoin.

In December, Marathon Digital Holdings Inc achieved record bitcoin production as Marathon Digital Holdings Inc produced 1,853 BTC in the month, which was up 56% from November 2023. It was also a 290% YoY increase.

Out of the 910 funds tracked by Insider Monkey, 13 hedge funds tracked by Insider Monkey had stakes in Marathon Digital Holdings Inc.

12. Lucid Group Inc (NASDAQ:LCID)

Number of Hedge Fund Investors: 18

Lucid Group Inc (NASDAQ:LCID) is one of the most shorted stocks in the EV space amid fears regarding production and uncertainty in 2024 due to upcoming elections. Earlier this month, the stock fell to an all-time low after Lucid Group Inc said it produced 2,391 vehicles during the last quarter of 2023 and delivered 1,734 vehicles, better than the analyst estimates for 1,696 vehicles delivered.

11. Nio Inc – ADR (NYSE:NIO)

Number of Hedge Fund Investors: 18

As US presidential elections 2024 inch closer, investors are starting to closely watch EV companies as a new government in the US could make or break EV stocks amid new policies. Analysts believe if Republicans come into power and make policies unfriendly to US EV companies, it would bode well for Chinese EV companies like Nio Inc – ADR (NYSE:NIO) which would also plan faster expansion in other markets.

As of the end of the third quarter of 2023, 18 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Nio Inc – ADR. The biggest hedge fund stakeholder of Nio Inc – ADR during this period was Jos Shaver’s Electron Capital Partners which owns a $38 million stake in Nio Inc – ADR.

10. Vale SA (NYSE:VALE)

Number of Hedge Fund Investors: 34

Brazilian mining giant Vale SA (NYSE:VALE) ranks 10th in our list of the top buzzing stocks to buy now. The stock is moving after Bloomberg reported that Brazilian President Luiz Inacio Lula da Silva wants his former finance minister to be the next CEO of Vale SA.

In December, Vale SA disclosed that its iron ore production of 310M-320M metric tons in 2024 will be flat when compared to 2023.

A total of 34 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Vale SA. The biggest stakeholder of Vale SA during this period was Ken Fisher’s Fisher Asset Management which owns a $243 million stake in Vale SA.

Miller Value Partners Income Strategy made the following comment about Vale S.A. in its second quarter 2023 investor letter:

“Vale S.A. (NYSE:VALE) fell during the quarter with iron ore prices. The company reported 1Q23 revenue of $8.44B, -22.7% Y/Y, below consensus of $8.79B, and Adjusted EBITDA of $3.69B, compared to 1Q22 EBITDA of $6.55B, below consensus of $4.49B. The Brazilian miner produced 66.8 million tons (Mt) of iron ore in 1Q23, +5.8% Y/Y, below consensus of 67.7 Mt, 67.0 thousand tons (kt) of copper, +18.4% Y/Y, and 41.0 kt of nickel, -10.5% Y/Y. Although management reaffirmed its FY23 production guidance, analysts seemed to be concerned by the negatively offsetting impacts of weaker iron ore prices as China, the world’s largest iron ore buyer, has threatened to curb any “unreasonable” price gains for the metal in an effort to prevent this year’s steel output from exceeding 2022 levels. Vale generated 1Q23 free cash flow (FCF) of $2.28B, bringing trailing-twelve month (TTM) FCF to $6.73B, or a FCF yield of 11.3%. The company repurchased $763MM worth of shares in the quarter and paid $1.80B in dividends, bringing total capital returned to shareholders in the quarter to $2.56B, or 4.3% of the company’s market cap.”

9. Ford Motor Co (NYSE:F)

Number of Hedge Fund Investors: 43

Ford Motor Co (NYSE:F) ranks ninth in our list of the most buzzing stocks to buy now. Earlier this month Ford Motor Co posted domestic Q4 sales volumes, with record electric vehicle (EV) numbers. Ford Motor Co sold 25,937 EVs in the period, a growth of 24% on a YoY basis.

8. AT&T Inc (NYSE:T)

Number of Hedge Fund Investors: 52

AT&T Inc is buzzing as investors get ready to see the company’s fourth quarter earnings report. Earlier in the month Oppenheimer upgraded the stock to Outperform with a $21 price target.

Oppenheimer’s analysts see several tailwinds for the stock, including AT&T Inc’s (NYSE:T) 120MHz C-Band portfolio which now covers over 200M point of presence, or POPs. Oppenheimer said that about 60% of AT&T Inc’s (NYSE:T) subscribers are now fiber, which means healthier margins and pricing leverage.

In addition to AT&T, other stocks trending right now include Amazon.com Inc, NVIDIA Corp and Apple Inc. AT&T is one of the most buzzing stocks to buy right now popular among hedge funds.

Miller Value Income Strategy made the following comment about AT&T Inc. in its Q3 2023 investor letter:

“Our third-largest holding at quarter end was AT&T Inc. (NYSE:T), a leading provider of communications and connectivity services in the US. At $15/share, the stock trades at the same price it did almost thirty years ago. The share price is much less interesting to us in relation to where it has traded in the past than in relation to how much cash the company generates and what management is doing with it. At just over 6x earnings, the stock trades near its lowest price-to-earnings (P/E) multiple ever, also representing close to its largest-ever P/E discount to the stock market. The business converts most of its earnings to free cash flow, implying a forward free cash flow yield north of 15%. Just under half of free cash flow is going toward the dividend (7.5% yield), while much of the balance is going to debt paydown. In other words, if the stock does not fall below its lowest-ever valuation, investors clip a rock-solid 7.5% in cash, while owning a growing portion of a very steady business as management reduces debt outstanding. A discounted cash flow model will suggest that intrinsic value for shares begins with a “2,” suggesting the stock is undervalued on an absolute basis. The lack of volatility in the underlying fundamentals also makes it unique when compared to many other things we own, which reduces the probability of permanent capital impairment and argues for a significant weight in the portfolio.

AT&T looks particularly attractive when compared to some of the larger names dominating the S&P 500. Compare the stock to Apple, for instance, whose revenues and profits are likely to shrink this year, even as it trades at 29x this year’s earnings estimate. The ongoing return to rationality and capital accountability, along with extreme valuations in the megacap tech stocks, have us more excited about our portfolio’s prospects than we can remember for quite some time. As always, we remain the largest investors and welcome any questions or comments.”

7. Intel Corp (NASDAQ:INTC)

Number of Hedge Fund Investors: 70

Intel Corp (NASDAQ:INTC) is creating a buzz as investors get ready to receive Intel Corp’s (NASDAQ:INTC) earnings report slated to be released on January 25. Recently, a Gartner report said Intel Corp ranked first in the list of top semiconductor companies in 2023, with a total semiconductor revenue of $48.7 billion.

As of the end of the third quarter of 2023, 70 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Intel Corp. The most significant stake in Intel Corp is owned by William B. Gray’s Orbis Investment Management which owns a $468 million stake in Intel Corp. Intel ranks fifth in our list of the most buzzing stocks to buy now.

Upslope Capital Management stated the following regarding Intel Corporation in its fourth quarter 2023 investor letter:

“Intel Corporation (NASDAQ:INTC) – New Long: This is not a traditional long for Upslope in any sense. Intel is outside of the box in terms of typical sector and market cap focus, and the position is really a portfolio hedge (and structured as such). The thesis is very simple: Intel is uniquely positioned to benefit in two important scenarios, both of which require “protection” for Upslope’s portfolio: a continued melt-up in technology stocks and/or rising tensions over Taiwan. Combined with expectations and sentiment around Intel that were incredibly low, this nudged me to add exposure via long-dated INTC call options. While still material in terms of delta-adjusted exposure, the position has been reduced repeatedly and is much more modest today.”

6. Tesla Inc (NASDAQ:TSLA)

Number of Hedge Fund Investors: 81

Tesla Inc (NASDAQ:TSLA) shares are creating a buzz on the Wall Street as investors await Tesla Inc’s (NASDAQ:TSLA) earnings that are set to be announced on January 24. The stock also came in the limelight after Elon Musk expressed his desire to have about 25% voting control over Tesla Inc in order to make Tesla Inc a leader in AI and robotics. Tesla ranks sixth in our list of the most buzzing stocks to buy now. Like Tesla, Amazon.com Inc, NVIDIA Corp and Apple Inc are also trending.

Tesla Inc shares have gained about 47% over the past one year. Some analysts expect Tesla Inc’s (NASDAQ:TSLA) earnings to come in weaker than expected amid pricing wars in the EV sector.

As of the end of the third quarter of 2023, 81 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Tesla Inc.

Tsai Capital Corporation stated the following regarding Tesla, Inc. in its fourth quarter 2023 investor letter:

“Tesla, Inc. (NASDAQ:TSLA) ($248.48 – up 101.7% for the year. Recent high $299.29): Tesla has significant and underappreciated competitive advantages across multiple verticals including electric vehicles, software and energy storage. Misunderstood by much of Wall Street – and consequently a favorite of short sellers – Tesla continues to grow rapidly and increase its lead over the competition while delighting consumers in the process. Despite his unconventional (and sometimes off-putting) personality, Elon Musk is a visionary who has created enormous shareholder value. Musk is also a long-term thinker who has embraced the scale-economies-shared business model favored by Henry Ford and Jeff Bezos, intentionally reducing prices, increasing the customer value proposition and expanding the total addressable market. Tesla’s massive scale and cost advantages are now challenging the viability of legacy auto, which has hundreds of billions of dollars of outdated property, plant and equipment in a world that is rapidly transitioning to electric vehicles (EVs). While we expect competition for EVs to intensify and for Tesla to lose market share over time, we also believe the company will increase production and deliveries from approximately 1.8 million vehicles today to approximately 15 million vehicles in 2030 and further its lead in autonomous driving capability. In fact, we expect Tesla will eventually license its autonomous driving software, creating high-margin (70-80%), recurring licensing revenue. Tesla is also one of only two companies that dominate the energy storage market, which has the potential to grow to several hundred billion in revenue as power plants around the world increase their focus on renewable energy. Our investment in Tesla is aligned with our preference for companies that have strong balance sheets and the managerial skill to reinvest capital at high rates of return into large addressable markets.”

5. Bank of America Corp (NYSE:BAC)

Number of Hedge Fund Investors: 88

Bank of America Corp (NYSE:BAC) ranks fifth in our list of the most buzzing stocks now. Earlier this month Bank of America Corp posted fourth quarter results. While net interest income met consensus, noninterest income missed estimates.

Smead Value Fund made the following comment about Bank of America Corporation in its Q3 2023 investor letter:

“Through the first nine months of the year, we had a gain of 2.10%. The S&P 500 had a gain of 13.07% and the Russell 1000 Value had a gain of 1.79%. The stock market realized markedly higher riskless US Treasury interest rates had their effect on the stock market as it began to reassert what Warren Buffett calls the “gravitational pull” on price-to-earnings ratios (P/E).

On the downside, Target (TGT), Bank of America Corporation (NYSE:BAC) and Pfizer (PFE) detracted the most in the first nine months of the year. Inverted yield curves are historically lousy for the banks, so the weak performance for BAC is no surprise.”

4. Advanced Micro Devices Inc. (NASDAQ:AMD)

Number of Hedge Fund Investors: 110

A broader rally in the semiconductors market after upbeat results from Taiwan Semiconductor buoyed Advanced Micro Devices Inc. (NASDAQ:AMD) recently is causing AMD stock to move. Advanced Micro Devices Inc. is also getting the spotlight amid AI-driven growth catalysts as Advanced Micro Devices Inc. is seen as a major competitor to NVIDIA Corp.

Advanced Micro Devices Inc. also moved after UBS said in a report that semiconductor demand is expected to surpass supply in 2024 which would create an “imbalance” that would ultimately favor top semi stocks.

As of the end of the third quarter of 2023, 110 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Advanced Micro Devices Inc.. The biggest hedge fund stakeholder of Advanced Micro Devices Inc. during this period was Ken Fisher’s Fisher Asset Management which owns a $2.8 billion stake in Advanced Micro Devices Inc..

White Falcon Capital Management stated the following regarding Advanced Micro Devices, Inc. in its fourth quarter 2023 investor letter:

“It is important to note that the returns depicted above actually originated in the market turmoil of 2022 and were only realized in 2023. We assess that about 75% of the returns in 2023 were derived from just 35% of the portfolio. Notably, the technology companies we acquired in 2022 – Advanced Micro Devices, Inc. (NASDAQ:AMD), Amazon, Docebo, NU, Rover – performed exceptionally well. In hindsight, the decision to allocate to technology stocks appears straightforward; but it actually demanded courage and conviction to buy and add to these stocks during the fear and uncertainty of the 2022 bear market.

The top 5 positions in the portfolio were: Precious Metals royalty basket, Nu Holdings, AMD Amazon.com and Converge Technology Services. AMD has worked out great for us but we must admit that it has gotten expensive. AI was not part of our original investment thesis and AMD is a great reminder of how one can get ‘lucky’ investing in quality businesses run by competent management teams (ditto for Amazon).”

3. Apple Inc (NASDAQ:AAPL)

Number of Hedge Fund Investors: 134

Apple Inc shares are buzzing before the launch of its much-awaited Apple Vision Pro mixed reality headset. Evercore’s Amit Daryanani said that the demand for the headset seems to be strong. The analyst referred to a spike in orders which caused Apple Inc to extend delivery date for pre-orders from Feb. 2 to March 8.

“We think this suggests relatively strong initial demand, although we do concede that Apple has likely limited volumes in the first year,” Daryanani said.

As of the end of the third quarter of 2023, 134 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Apple Inc.

Polen Focus Growth Strategy stated the following regarding Apple Inc. in its fourth quarter 2023 investor letter:

“Apple Inc. (NASDAQ:AAPL) and NVIDIA alone drove over 1,100 basis points of the Russell 1000 Growth Index’s 42% return, so not owning them was a meaningful headwind to our relative return in 2023. While on a total attribution basis, Apple was not a top three detractor to our full-year return, given its extremely large weighting in the Index, we feel it’s worth sharing our thoughts.

The company’s share price appreciated nearly 50% in a year when its revenue declined and earnings per share was relatively flat with the previous year.

For 2024, consensus expectations are for low-single-digit revenue growth and only slightly faster EPS growth. These pedestrian growth rates are not surprising for a company with nearly $400 billion in annual revenue. What is more surprising is that Apple shares trade at nearly 30x forward earnings, a large premium to the market and many faster-growing, competitively advantaged businesses.

While we continue to think Apple is a wonderful business, it is also a slow growing one with risks that we do not see as insignificant. Apple’s entire supply chain is based in China and much of its incremental revenue growth also comes from China, so if there is a U.S.-China issue that makes it more difficult for U.S.-based companies that have access to large amounts of local data to operate in China, Apple’s business would likely face more challenges than many others. In addition, much of Apple’s services growth and margin expansion has come from direct payments from Google to be the default search provider on iOS devices. This practice is currently the subject of a lawsuit between Google and the U.S. Justice Department. If this practice is deemed unlawful, it could take away a large and highly profitable revenue stream from Apple’s already slow growth engine. While we closely cover Apple, we continue to believe we have better investment opportunities. Apple’s current P/E is above our Portfolio’s weighted average, yet its long-term earnings growth rate is likely to be lower than even our slowest growing holding, according to our research.”

2. NVIDIA Corp (NASDAQ:NVDA)

Number of Hedge Fund Investors: 180

NVIDIA Corp remains a buzzing stock and is expected to keep making waves for months to come amid the AI boom that has no end in sight. Investors are eager to watch NVIDIA Corp’s (NASDAQ:NVDA) earnings report slated to be released next month. On the other hand, more and more companies are ordering AI-focused chips from NVIDIA Corp. Recently Meta Platforms’ CEO Mark Zuckerberg said his company is spending billions in buying chips from NVIDIA Corp.

Polen Focus Growth Strategy stated the following regarding NVIDIA Corporation in its fourth quarter 2023 investor letter:

“Apple and NVIDIA Corporation (NASDAQ:NVDA) alone drove over 1,100 basis points of the Russell 1000 Growth Index’s 42% return, so not owning them was a meaningful headwind to our relative return in 2023. NVIDIA shares rocketed higher by well over 200% in 2023 although they slightly underperformed our Portfolio and the Russell 1000 Growth in the fourth quarter. Generative AI has been a huge boon for NVIDIA as the use of LLMs like ChatGPT and others requires tremendous processing power that, today, is mostly provided by NVIDIA’s GPUs. All large cloud service providers, AI factories, and many large consumer internet companies are laying the foundation for generative AI by deploying NVIDIA GPUs and other parallel processing chips to be able to do large scale generative AI either for internal use (i.e., Meta) or as a service for others (i.e., AI factories) or both (cloud service providers such as Amazon, Microsoft, and Google).

Given many of NVIDIA’s customers or its end customers are still very much in the experimentation phase with generative AI, it is unclear how sustainable the current demand for GPUs truly is. At the same time, it is known that NVIDIA has historically been highly cyclical. By the end of 2024, we believe NVIDIA will already account for roughly half the market for datacenter chips, servers, and networking equipment, which is unprecedented. Even though the valuation at 25x forward earnings doesn’t look very demanding at first glance, it assumes NVIDIA will own virtually the entire datacenter chip market in just the next few years and will sustain year-on-year growth despite being a cyclical business that is currently experiencing much higher new peaks.

We believe NVIDIA is a highly advantaged business, but we also believe the long-term growth outcomes are currently too variable, and the expectations built into the company’s $1.2 trillion valuation as of this writing assume the most optimistic of those scenarios.”

1. Amazon.com Inc (NASDAQ:AMZN)

Number of Hedge Fund Investors: 286

Amazon.com Inc is one of the top buzzing stocks right now. BofA strategist Michael Hartnett recently said it’s still a “buy-the-dip” market and investors will revert to growth stocks and the Magnificent Seven group of stocks, which includes Amazon, will rebound again in 2024.

Polen Focus Growth Strategy stated the following regarding Amazon.com, Inc. in its fourth quarter 2023 investor letter:

“For the full year, the top relative and absolute contributors were Amazon.com, Inc. (NASDAQ:AMZN), Salesforce, and ServiceNow. Amazon shares appreciated 88% in 2023, driven primarily by rapidly expanding operating profit margins and free cash flow growth. After the pandemic, Amazon experienced a period of inefficiency and overinvestment in its distribution and logistics infrastructure. Amazon is now leveraging these investments as growth returned to its e-commerce business in 2023 after a highly unusual 2022. At the same time, Amazon’s rapidly growing and high-margin advertising business is contributing strongly to the entire company’s operating profit growth. The AWS (Amazon Web Services) cloud infrastructure and services business continued to slow in 2023 as customers anticipating a more difficult economic environment looked to save money on their cloud spend, but these cloud spending optimizations began to stabilize in the second half of 2023. We now expect customer interest in generative AI will begin to contribute to growth.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the Analysts on Wall Street Lower Ratings for These 10 Stocks and the 17 High Growth Non-Tech Stocks That Are Profitable.