5 Near Monopoly Stocks in the US

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 306

Microsoft Corporation (NASDAQ:MSFT), an American multinational technology company headquartered in Redmond, Washington, is renowned for its suite of software products, including the Windows line of operating systems, the Microsoft 365 suite of productivity applications, and the Edge web browser.

In January 2022, Microsoft Corporation (NASDAQ:MSFT) unveiled its intentions to acquire game company Activision Blizzard in an all-cash deal valued at nearly $70 billion. This surpasses the company’s 2016 deal of $26 billion with LinkedIn and would stand as the company’s largest acquisition to date if successfully completed. The acquisition signifies Microsoft Corporation (NASDAQ:MSFT)’s strategic shift towards emphasizing gaming content delivery in addition to platform development, showcasing the company’s ambitions to explore opportunities in the emerging metaverse industry. Another noteworthy acquisition by Microsoft Corporation (NASDAQ:MSFT) was the purchase of the voice artificial intelligence (AI) company Nuance in 2021 for nearly $20 billion, reflecting the company’s focus on industry-specific cloud strategy, particularly in the healthcare market where Nuance holds a strong position.

In a recent announcement, Microsoft Corporation (NASDAQ:MSFT) disclosed its financial results for the first quarter of the 2024 fiscal year. The tech giant reported impressive revenue of $56.5 billion, accompanied by a net income of $22.3 billion in Q1. These figures indicate significant growth, with revenue increasing by 13% and net income surging by 27%. While the Devices segment faced challenges in this quarter, there was a modest recovery observed in the Windows division. Notably, Microsoft Corporation (NASDAQ:MSFT)’s cloud services and Office suite experienced substantial growth, with the company’s Cloud revenue reaching $31.8 billion, reflecting a 24% year-over-year increase.

As per Insider Monkey’s Q3 2023 database, Microsoft Corporation (NASDAQ:MSFT) emerged as the most popular stock among hedge funds, with 306 funds holding stakes in the company, collectively valued at nearly $72.1 billion.

You can also take a look at 12 Best Tech Stocks To Buy According to Billionaire Ken Griffin and 11 Cheap Pot Stocks to Buy

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