Artisan Partners, an investment management company, released its “Artisan Global Discovery Fund” second quarter investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class: APFDX returned -20.46%, Advisor Class: APDDX posted a return of -20.42%, and Institutional Class: APHDX returned -20.40%, compared to the benchmark return of -15.66% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners discussed stocks like ON Semiconductor Corporation (NASDAQ:ON) in the second quarter investor letter. Headquartered in Phoenix, Arizona, ON Semiconductor Corporation (NASDAQ:ON) is an intelligent sensing and power solutions provider. On September 23, 2022, ON Semiconductor Corporation (NASDAQ:ON) stock closed at $63.31 per share. One-month return of ON Semiconductor Corporation (NASDAQ:ON) was -11.55% and its shares gained 28.44% of their value over the last 52 weeks. ON Semiconductor Corporation (NASDAQ:ON) has a market capitalization of $27.428 billion.
Here is what Artisan Partners specifically said about ON Semiconductor Corporation (NASDAQ:ON) in its Q2 2022 investor letter:
“ON Semiconductor Corporation (NASDAQ:ON) is a global market leader in power management and image sensors. The company reported 49% gross margins in 1Q22 which met the new management team’s 48%-50% long-term target after revising it higher just one quarter ago. We believe ON has a clear path to >50% gross margins, and its financial results reflect the ongoing structural improvements in both manufacturing and products, cost initiatives, product mix and rising prices. Growing demand for chips in electric vehicles, renewable energy infrastructure, advanced driver assistance (multiple cameras), factory automation and machine vision should drive sustainable high single-digit top-line growth. With shares trading at an attractive discount to our PMV estimate, we continued to move this holding up the Crop of the portfolio.”
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ON Semiconductor Corporation (NASDAQ:ON) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held ON Semiconductor Corporation (NASDAQ:ON) at the end of the second quarter which was 48 in the previous quarter.
We discussed ON Semiconductor Corporation (NASDAQ:ON) in another article and shared the list of stocks that have the capacity to skyrocket. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.
It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.
Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
How could anything be worth that much?
The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.
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What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.
In fact, Verge argues this company’s supercheap AI technology should concern rivals.
Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.
Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.
Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…
But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.
And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…
This prediction might not be bold at all:
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