In this article, we discuss the 5 safe tech stocks for a retirement stock portfolio. If you want to read about some more tech stocks, go directly to Retirement Stock Portfolio: 11 Safe Tech Stocks to Consider.
5. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 140
Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. It is one of the best safe tech stocks for a retirement stock portfolio. On November 6, Apple revealed that it is working on a project to simplify the phrase “Hey Siri” to “Hey” on iPhone, iPad, Mac, Apple Watch and HomePod. Apple would also in turn speed up back-to-back requests. The company has made some changes in Siri on the Apple TV as part of tvOS 16.1.
On October 28, Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target on Apple to $200 from $220, noting that the company delivered a mixed September quarter result.
At the end of the third quarter of 2022, 140 hedge funds in the database of Insider Monkey held stakes worth $144 billion in Apple Inc. (NASDAQ:AAPL), compared to 128 in the previous quarter worth $143 billion.
In its Q2 2022 investor letter, Alger Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:
“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications. computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact the production of apple products, however, the manufacturing facilities have resumed activity.”
4. Mastercard Incorporated (NYSE:MA)
Number of Hedge Fund Holders: 146
Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services. It is one of the top safe tech stocks for a retirement stock portfolio. On November 3, Mastercard noted that it is welcoming seven new crypto and blockchain startups to the fintech innovation program, Mastercard Start Path. Mastercard Start Path has fielded applications from over 1500 startups every year and this program has helped 350 businesses attract well over $3.5 billion in funding.
On November 1, Mizuho analyst Dan Dolev maintained a Buy rating on Mastercard Incorporated (NYSE:MA) stock and lowered the price target to $380 from $385, noting that there was a rise in 2022 estimates for the firm but a trim to outer-year expectations.
At the end of the third quarter of 2022, 146 hedge funds in the database of Insider Monkey held stakes worth $13.9 billion in Mastercard Incorporated (NYSE:MA), compared to 137 in the previous quarter worth $14.99 billion.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them. Here is what the fund said:
“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Mastercard Incorporated (NYSE:MA) added the most value. These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”
3. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) provides various products and platforms such as Google Services, Google Cloud etc. It is one of the elite safe tech stocks for a retirement stock portfolio. On November 6, YouTube, a subsidiary of Alphabet, said that it is preparing to launch a co-streaming feature called Go Live Together. At launch, creators will only be able to co-stream using a phone and not on the desktop version of YouTube. YouTube plans to expand co-creators to more creators in future.
On October 26, Evercore ISI analyst Mark Mahaney maintained an Outperform rating on Alphabet Inc. (NASDAQ:GOOG) stock and lowered the price target to $130 from $140, noting that the company’s third quarter results missed the Street/ISI across the board by a wider margin than expected.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 52.4 million shares worth more than $5 billion.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:
“Alphabet Inc. (NASDAQ:GOOG) is the parent company of Google, the world’s largest search and online advertising company. Shares of Alphabet declined 21.6% in the quarter due to concerns about slower global growth impacting the company’s core advertising business. We retain conviction in Alphabet’s merits as it continues to benefit from growth in mobile and online video advertising, which accrues to its core assets of search, YouTube, and the Google ad network. We are further encouraged by Alphabet’s investments in Cloud, AI, and Autonomous Driving (through its Waymo subsidiary).”
2. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 177
Meta Platforms Inc. (NASDAQ:META) develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It is one of the major safe tech stocks for a retirement stock portfolio. On November 6, Meta Platforms revealed that it is planning to implement large scale job cuts this week that could affect thousands of employees. On November 2, Meta said that they are introducing new ways for creators to make their own NFT’s and sell them on and off Instagram to their fans.
On November 7, Itau BBA analyst Thiago Kapulskis upgraded Meta Platforms, Inc. (NASDAQ:META) stock to Outperform from Market Perform with a $102 price target, noting that the company’s current share price reflects an extremely bear case.
At the end of the third quarter of 2022, 177 hedge funds in the database of Insider Monkey held stakes worth $14.2 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 185 in the preceding quarter worth $18.2 billion.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:
“Shares of Meta Platforms, Inc. (NASDAQ:META), the owner of Facebook, the world’s largest social network, fell 28.4% during the second quarter due to quarterly results that missed consensus estimates, driven by the impact of Apple’s new privacy changes in its iOS operating system. These changes have made it harder for Facebook to measure the effectiveness of its advertising across its mobile apps.
In the longer term, we expect Facebook to continue utilizing its leadership in mobile to provide global advertisers targeted marketing capabilities at scale, with substantial monetization optionality ahead in newer areas such as Reels (Meta’s competing solution to TikTok) and e-commerce.”
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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