Billionaire Steve Cohen’s Top 15 Stock Picks

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13. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 202

Point72 Asset Management’s Stake: $192.2 million  

Alphabet Inc. (NASDAQ:GOOGL) is a California-based technology company that owns and runs the internet search engine Google. This company is positioned as a lucrative investment for the following reasons. Firstly, as per the report of the third quarter of 2024, the company reported an increase in revenue of 15%, or 16% in constant currency, year over year to $88.3 billion, reflecting strong momentum across the business. Also, net income increased by 34%, and EPS increased by 37% to $2.12. Secondly, Google Cloud has shown great growth, which reflects the rising reliance of enterprises on AI-driven insights. Google has rolled out ads in AI Overviews, which use generative AI to summarize content from a range of sources and display precise results for search queries.

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