Retirement Stock Portfolio: 5 Safe Tech Stocks to Consider

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 269     

Microsoft Corporation (NASDAQ:MSFT) develops, licenses, and supports software, services, devices, and solutions worldwide. It is one of the prominent safe tech stocks for a retirement stock portfolio. On November 3, Microsoft stated that it will extend its technology support in Ukraine through the end of 2023, free of charge, valuing at roughly $100 million. On November 7, Microsoft announced that it has added a new function to its PowerPoint “Save Media with Subtitles” which allows users to save all files with subtitles with the media files.

On November 2, Macquarie analyst Sarah Hindlian-Bowler initiated coverage of Microsoft Corporation (NASDAQ:MSFT) stock with a Neutral rating and $234 price target, noting that near-term headwinds are expected from slowness in the macro environment, cloud pull-in from COVID, slower PC sales, high energy costs and a soft consumer.

At the end of the third quarter of 2022, 269 hedge funds in the database of Insider Monkey held stakes worth $61.2 billion in Microsoft Corporation (NASDAQ:MSFT), compared to 258 in the previous quarter worth $56 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:

“Shares of Microsoft Corporation (NASDAQ:MSFT), a leading global provider of software solutions, declined 16.6% in the quarter along with the broader software group as well as due to growing concerns of a potential macro-driven slowdown. This is despite the company posting strong quarterly financial results and successfully absorbing headwinds from the war in Ukraine. The company had 21% revenue growth, 23% operating income growth, and 35% growth in Microsoft Cloud (all year-over-year in constant currency), which now represents 47% of total revenues. (read more…)

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