5 Tech Stocks to Buy According to Billionaire Philippe Laffont

2. NVIDIA Corporation (NASDAQ:NVDA)

Coatue Management’s Stake:$1.383 billion 

NVIDIA Corporation (NASDAQ:NVDA) is an American technology company focusing on computer hardware/software, semiconductors, consumer electronics, and GPUs, among other things. The company represented 9.19% of Coatue Management’s portfolio with 4.98 billion shares valued at $1.383 billion. 

Fred Alger Management made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is a leading supplier of graphics processing units (GPUs) for a variety of end markets, such as gaming, PCs, data centers, virtual reality and high-performance computing. The company is leading in most secular growth categories in computing, and especially artificial intelligence and super-computing parallel processing techniques for solving complex computational problems. Simply put. Nvidia’s computational power is a critical enabler of Al and therefore critical to Al adoption, in our view. As such, we believe Nvidia is a long-term high unit volume growth opportunity. During the period, NVIDIA reported fiscal fourth-quarter results that met expectations, as the company navigated. through an inventory correction associated with the broad macroeconomic slowdown. Moreover, management gave fiscal year earnings guidance that was better than analyst estimates. noting strong year-over-year growth in gaming and data centers. Management’s constructive assessment of 2023 prospects. coupled with the rapid rollout and adoption of generative Al offerings, led to positive share price performance.”