Below is the list of 10 tech stocks to buy now according to late Michael Price’s MFP Investors. For a detailed discussion about Michael Price’s investment philosophy and portfolio management strategy please see 10 Tech Stocks to Buy Now According to Late Michael Price’s MFP Investors.
5. BlackBerry Limited (NYSE:BB)
MFP Investors’ stake value: $7.9 million
Percentage of MFP Investors’ portfolio: 0.87%
Number of hedge fund holders: 16
BlackBerry Limited (NYSE:BB) is ranked fifth on the list of 10 tech stocks to buy now according to late Michael Price’s MFP Investors. It is engaged in the cybersecurity software business. MFP Investors’ first initiated a stake in the company in 2018. The firm slashed some percentage of its stake in the company early in 2021 to capitalize on the share price run. As of December, MFP Investors held 850,000 shares of the company.
Elite funds lowered their bullish bets on the company recently. As of December, BlackBerry was in 16 portfolios, down from 21 positions in the previous quarter.
4. Amazon.com, Inc. (NASDAQ:AMZN)
MFP Investors’ stake value: $11.67 million
Percentage of MFP Investors’ portfolio: 1.29%
Number of hedge fund holders: 282
Amazon.com, Inc. (NASDAQ:AMZN) is the long-running stock holding of MFP Investors. The firm’s strategy of holding a stake in the company contributed to its returns over the years. Despite the latest volatility, its shares are up 237% in the past five years. The company anticipates slow revenue growth in 2022 when compared to the past two years. The pandemic-related lockdowns bolstered its revenue growth in 2020 and 2021.
In the fourth quarter investor letter, Davis Funds, an investment management firm, mentioned a few stocks including Amazon.com. Here is what Davis Funds stated:
“Within the traditional growth category, growing euphoria has led to bubble prices for many companies, most especially those with new and unproven business models such as those discussed above. In contrast, our research focuses on a select handful of proven growth stalwarts whose shares still trade at reasonable valuations. For example, because of concerns about future litigation and regulation, several dominant internet businesses, including Amazon, trade at steep discounts to many unproven and unprofitable growth darlings that, in our view, trade at euphoric prices. While we expect a continued barrage of negative headlines around the company, as well as increased regulation in the years ahead, we do not expect a significant decline in its long-term profitability.”
3. Alphabet Inc. (NASDAQ:GOOG)
MFP Investors’ stake value: $18.25 million
Percentage of MFP Investors’ portfolio: 2.02%
Number of hedge fund holders: 374
Over the past few years, the firm’s strategy of increasing its stake in Alphabet Inc. (NASDAQ:GOOG) worked in its favor. This is because Alphabet’s stock price surged 195% in the past five years and most of the price growth occurred in the past two years. The company’s fundamentals look strong amid prospects for higher ads revenue in the quarters ahead.
In the fourth quarter investor letter, Tao Value, an investment management firm, highlighted a few stocks including Alphabet. Here’s what Tao Value stated:
“Our top contributors this quarters included Yet Alphabet (NASDAQ:GOOG), adding 125 bps respectively. As of the end of this quarter, our top 3 positions also includes Alphabet (NASDAQ:GOOG). Alphabet (NASDAQ:GOOG) seemed to defy such impact and still delivered strong results, beating both revenue & earnings expectations.”
2. Twitter, Inc. (NYSE:TWTR)
MFP Investors’ stake value: $21.93 million
Percentage of MFP Investors’ portfolio: 2.42%
Number of hedge fund holders: 83
MFP Investors doubled its stake in Twitter, Inc. (NYSE:TWTR) during the December quarter. It is ranked second on our list of 10 tech stocks to buy now according to late Michael Price’s MFP Investors. Shares of Twitter jumped substantially in the past few weeks after Elon Mask revealed a 9% big stake in the company. Moreover, Elon Musk offered to buy the company for $43 billion. The company’s market cap is currently around $34 billion.
In the fourth quarter investor letter, ClearBridge Investments, an investment management firm, mentioned a few stocks including Twitter. Here is what ClearBridge Investments stated:
“Weakness among our holdings in the communication services sector was the other detractor to performance. Twitter shares sold off following weaker than expected third-quarter results, but under new leadership, we see the potential for improved execution and performance as live events and entertainment return to pre-pandemic levels.”
1. Intel Corporation (NASDAQ:INTC)
MFP Investors’ stake value: $106 million
Percentage of MFP Investors’ portfolio: 11.78%
Number of hedge fund holders: 75
Intel Corporation (NASDAQ:INTC) is the largest stock holding of MFP Investors, according to the latest 13F filings. The firm has been holding a stake in the company since 2012. The company’s stock price underperformed in the past five years due to increasing market competition. However, it continued to return cash to investors in the form of dividends. The company’s future prospects improved after it announced plans to invest around $90 billion in the European market to expand its market share.
In the fourth quarter investor letter, ClearBridge Investments, an investment management firm, mentioned a few stocks including Intel. Here is what ClearBridge stated:
“Intel, whose policies and disclosures around its environmental footprint and impact, diversity and inclusion and supply chain auditing are best in class and the gold standard for the broader industry, has also been successful in effectively vaccinating its entire Southeast Asia workforce as well as supporting initiatives to vaccinate others in the surrounding area. In September 2021 it announced it was earmarking RM2 million (~USD$475k) toward COVID-19 relief efforts, on top of the already committed RM3.2 million (~USD$760k) it had made since the start of the pandemic in 2020. Donations target medical equipment for hospitals, community care packages of food and essentials for underserved groups and technological assistance for remote learning.
You can also take a look at 10 Best Semiconductor Stocks to Invest in According to Ken Griffin’s Citadel Investment Group and Consumer Staples Stocks To Buy According To Billionaire Ray Dalio.
