5 Unstoppable Tech Stocks To Buy

In this article, we discuss the 5 unstoppable tech stocks to buy. To read the detailed analysis of the technology industry, go directly to the 10 Unstoppable Tech Stocks To Buy.

5. Arm Holdings plc (NASDAQ:ARM)

YTD Gains as of April 4: 77.03%

Number of Hedge Fund Holders: 22

Arm Holdings plc (NASDAQ:ARM) is involved in designing, manufacturing, and licensing CPU products and related technology. According to the company’s website, company-based products are used by 90% of the world, it has shipped more than 280 billion chips, and 99% of phones operate on ARM-based processors. As of April 4, Arm Holdings plc (NASDAQ:ARM) is 77.03% higher year-to-date (YTD).

Arm Holdings plc (NASDAQ:ARM) takes the 5th spot on our list of unstoppable tech stocks to buy. In Q4 of 2023, 22 hedge funds held positions in the stock, with positions worth $1.518 billion. 

On March 13, Arm Holdings plc (NASDAQ:ARM) revealed its new technology for the automotive industry, including v9-based Cortex-A processors, Arm Neoverse V3AE, and more. The company believes that the new Arm Automotive Enhanced (AE) processors and virtual platforms will speed up the buildout of AI-enabled vehicles by up to two years.

4. NVIDIA Corporation (NASDAQ:NVDA)

YTD Gains as of April 4: 78.34%

Number of Hedge Fund Holders: 173

NVIDIA Corporation (NASDAQ:NVDA) is a designer and manufacturer of computer graphics processors, chipsets, and related multimedia software. In 2023, the company’s AI tech was used to power over 40,000 companies’ AI factories, NVIDIA Drive runs all 30 of the 30 biggest autonomous vehicle data centers, and over 200 million gamers and creators utilize NVIDIA GeForce GPUs.

On April 4, according to Reuters, the Indonesian communication minister announced that NVIDIA Corporation (NASDAQ:NVDA) will be co-investing $200 million with Indosat Ooredoo Hutchison to construct an AI center in Central Java in 2024.

As of April 4, NVIDIA Corporation (NASDAQ:NVDA) is up by 78.34% year-to-date. The stock was part of 173 hedge funds’ portfolios in Q4 of 2023, with a total stake value of $33.76 billion. GQG Partners is the most significant shareholder in the company and has a position worth $6.88 billion as of Q4, 2023.

Fred Alger Management stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its fourth quarter 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. During the period, shares contributed to performance as Nvidia reported solid fiscal third quarter results well above analyst expectations, driven by strong demand from data centers. Growing Al data center workloads are driving demand for the increased interconnections and fully accelerated software stacks, thereby enabling leading application performance and fast result times.”

3. AppLovin Corporation (NASDAQ:APP)

YTD Gains as of April 4: 87.67%

Number of Hedge Fund Holders: 38

AppLovin Corporation (NASDAQ:APP) is a California-based company that offers AI-based solutions and end-to-end software. The company has 18 offices around the globe, and its software is used by more than 10,000 developers. As of April 4, the stock has gained 87.67% YTD and takes the third spot on our list of unstoppable tech stocks to buy.

In Q4 of 2023, hedge funds with investments in AppLovin Corporation (NASDAQ:APP) were 38 in the quarter, with positions worth $1.91 billion. This is compared to 33 funds with positions worth $1.834 billion in the prior quarter. GQG Partners is the top investor in the company as of December 31, 2023, and has a position worth $1.02 billion.

On March 26, AppLovin Corporation (NASDAQ:APP)-owned Wurl launched a new GenAI-based CTV advertising solution called BrandDiscovery. The solution leads to enhanced brand awareness and purchase intent using GenAI for the company’s clients.

SaltLight Capital stated the following regarding AppLovin Corporation (NASDAQ:APP) in its fourth quarter 2023 investor letter:

“AppLovin Corporation (NASDAQ:APP) operates at the intersection of game advertisers, publishers, and over one billion game players, functioning as a pivotal monetisation enabler in the free-to-play gaming ecosystem.

One of AppLovin’s strengths lies in its primary use of contextual data for ad matching. While this type of data may not offer the high precision of first-party data like Meta’s, it remains invaluable, especially in environments where traditional data signals are weaker. Contextual targeting becomes increasingly relevant in areas like connected TV (CTV), where direct user tracking is more challenging.

Connected TV, which includes devices (smart TVs, consoles, or sticks) that stream TV content, represents a flourishing opportunity set for performance-based digital advertising. As more households move away from traditional satellite or terrestrial TV in favour of internet-connected devices, the potential for monetising this viewership grows. However, advertising on CTV is still operating in the same seventy-year-old way as linear TV – with brand advertising as the dominant part of the funnel…” (Click here to read the full text)

2. MicroStrategy Incorporated (NASDAQ:MSTR)

YTD Gains as of April 4: 135.78%

Number of Hedge Fund Holders: 16

MicroStrategy Incorporated (NASDAQ:MSTR) offers artificial intelligence-powered enterprise analytics software and services and develops Bitcoin. Its product offerings include MicroStrategy ONE, MicroStrategy Cloud, MicroStrategy Consulting, and more.

On March 20, TD Cowen analyst Lance Vitanza lowered the price target on MicroStrategy Incorporated (NASDAQ:MSTR) to $1,450 from $1,560 while keeping an Outperform rating. The firm mentioned that the shares are attractive for investors who want Bitcoin exposure and highlighted that the company acquired 9,245 Bitcoins for $623 million.

On March 26, MicroStrategy Incorporated (NASDAQ:MSTR) unveiled MicroStrategy Auto, an AI bot that can be customized and utilized to update business intelligence delivery across its clients’ organizations.

As of April 4, MicroStrategy Incorporated (NASDAQ:MSTR)’s stock is 135.78% higher YTD. The stock was part of 16 hedge funds’ portfolios in the fourth quarter of 2023, with a total stake value of $66.929 million. Balyasny Asset Management is the most dominant shareholder in the company and has a position worth $17.944 million, as of Q4, 2023.

1. Super Micro Computer, Inc. (NASDAQ:SMCI)

YTD Gains as of April 4: 235.61%

Number of Hedge Fund Holders: 40

Super Micro Computer, Inc. (NASDAQ:SMCI) is a California-based company that offers server and storage solutions. The company has operations in more than 100 countries and has shipped 1.3 million server and storage nodes. Super Micro Computer, Inc. (NASDAQ:SMCI) takes the top spot on our list of unstoppable tech stocks to buy and has gained 235.61% YTD, as of April 4.

In the fourth quarter of 2023, 40 hedge funds had stakes in Super Micro Computer, Inc. (NASDAQ:SMCI), with total positions worth $642.911 million. With 446,128 shares worth $126.816 million, Driehaus Capital is the biggest shareholder in the company as of Q4 2023.

On March 25, Northland analyst Nehal Chokshi raised the price target on Super Micro Computer, Inc. (NASDAQ:SMCI) to $1,300 from $925 and kept an Outperform rating on the shares.

Should you invest $1,000 in Super Micro Computer, Inc. (NASDAQ:SMCI) right now?

Before you buy stock in SMCI, consider this:

The Insider Monkey Quarterly Newsletter just identified what we believe are the 14 best stocks for investors to buy now… and SMCI wasn’t one of them. The 14 stocks that made the cut could produce monster returns in the next few months.

Quarterly Newsletter is your easy-to-follow blueprint for building a winning portfolio.  It includes stock picks from billionaires, regular updates from hedge fund investor letters, and 14 fresh stock picks each quarter. The Quarterly Newsletter service has more than doubled the return of S&P 500 since 2014.

See the 14 stocks

Disclosure: None. You can also look at the 15 Most Populated Cities in Asia and 12 Dirt Cheap Stocks To Buy According to Hedge Funds.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.