Bailard’s Top Technology Stock Picks

In Accenture Plc (NYSE:ACN), Bailard Inc. had amassed 70,664 shares worth $9.55 million at the end of September. The fund has held shares of Accenture Plc (NYSE:ACN) since the fourth-quarter of 2008 and has seen the stock surge by over 300% since then. The global management consulting and professional services company recently reported its financial results for the fourth-quarter of its fiscal 2016, ended August 31. Accenture Plc (NYSE:ACN) posted EPS of $1.48 and revenue of $9.15 billion, beating the consensus estimates by $0.01 and $120 million, respectively.

Tech giant Alphabet Inc (NASDAQ:GOOGL) is Bailard’s fourth-largest non-ETF position, as the fund held 13,773 class A shares of the company valued at $13.41 million at the end of the third-quarter; between July and September, the holding was raised by 6%. Bailard also owns 7,244 class C shares of the company. Alphabet Inc (NASDAQ:GOOGL) has achieved great progress in many of its projects. Its developments in the AI space have allowed it to become one of the leaders in the smart home segment; it recently announced a new product, the Home Mini smart speaker to capture more market share in the smart home business. Alphabet Inc (NASDAQ:GOOGL) recently spun off its Project Loon into a standalone company, which develops balloons that can provide internet connectivity to remote areas. Another shareholder of Alphabet Inc (NASDAQ:GOOGL) is Bernard Selz’s Selz Capital, which initiated a stake containing 18,000 class A shares between July and September.

Facebook Inc (NASDAQ:FB) is another tech stock that Bailard is bullish on. During the third-quarter, the fund increased its stake in the company by 9% to 124,149 shares; the holding was worth $21.21 million at the end of September. Facebook Inc (NASDAQ:FB) continues to find ways to monetize its platforms in order to grow its earnings. Recently, the company released a food ordering service that allows users of Facebook to order food directly from the website. Facebook Inc (NASDAQ:FB)’s stock has advanced by over 50% since the beginning of the year.

Microsoft Corporation (NASDAQ:MSFT) is represented in Bailard’s equity portfolio by a $23.61 million position that contained 316,945 shares at the end of September. Year-to-date, Microsoft Corporation (NASDAQ:MSFT)’s stock has appreciated by 25% and it currently has a dividend yield of 2.17%. Microsoft Corporation (NASDAQ:MSFT)’s focus on cloud has been paying off handsomely for the company and analysts expect further growth, helped by its Azure cloud platform and Office 365. In other news, the tech giant recently decided to retire its mobile operating system Windows Phone. Another investor bullish on Microsoft Corporation (NASDAQ:MSFT) is Paul Holland and Matthew Miller’s Glaxis Capital Management, which raised its stake in the company by nearly 200% to 151,590 shares during the third-quarter.

Apple Inc. (NASDAQ:AAPL) is Bailard’s largest tech bet, with the fund holding 173,558 shares worth $26.75 million at the end of the latest quarter. Apple Inc. (NASDAQ:AAPL) recently announced several new products, including two new iPhones, the iPhone 8 and iPhone X, but there are concerns that the company won’t be able to meet the demand. However, the iPhone X did show Apple Inc (NASDAQ:AAPL)’s future direction in design and technology, such as the replacement of Touch ID with facial recognition.

Disclosure: None