What Are The Best Stocks To Buy Right Now? Top 5 Stocks

In this piece, we will take a look at what the top five best stocks to buy right now are. If you want to take a look at the latest stock market news, then head on to 15 Best Stocks To Buy Right Now.

5. Alphabet Inc. (NASDAQ:GOOGL)

Average Share Price Upside: 10%

Alphabet Inc. (NASDAQ:GOOGL) is a technology mega cap stock that is one of the most valuable companies in the world. Being a tech firm, Google’s revenues depend on the economy – particularly its Search and YouTube income which is dependent on advertising and general spending.

204 of the 943 hedge funds part of Insider Monkey’s Q1 2023 database had invested in Alphabet Inc. (NASDAQ:GOOGL). The firm’s largest shareholder among these is Ken Fisher’s Fisher Asset Management with a $4.3 billion stake.

4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Average Share Price Upside: 11%

The Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the largest contract chip manufacturer in the world. The firm’s second quarter of 2023 earnings were a rather muted event as it warned that inventory digestion in the chip industry might take longer than initially expected.

As of March 2023, 102 of the 943 hedge funds profiled by Insider Monkey had bought the firm’s shares. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s largest hedge fund investor is Ken Fisher’s Fisher Asset Management with a stake of $2.3 billion.

3. Thermo Fisher Scientific Inc. (NYSE:TMO)

Average Share Price Upside: 12%

Thermo Fisher Scientific Inc. (NYSE:TMO) is a medical devices company that makes and sells products used in healthcare research and diagnosing diseases. The firm’s latest earnings report saw it cut revenue guidance by more than a billion on the low end.

After digging through 943 hedge funds for their first quarter of 2023 shareholdings, Insider Monkey discovered that 98 had bought and owned a stake in Thermo Fisher Scientific Inc. (NYSE:TMO). Ken Fisher’s Fisher Asset Management is the largest shareholder out of these, with an investment worth $1.3 billion.

2. PayPal Holdings, Inc. (NASDAQ:PYPL)

Average Share Price Upside: 12%

PayPal Holdings, Inc. (NASDAQ:PYPL) is a payments service that enables local and cross border transactions between businesses and consumers. The shares are rated Strong Buy on average and the average share price is $82.49 for a sizeable 12% upside.

Insider Monkey’s March quarter of 2023 survey of 943 hedge funds revealed that 103 had invested in the firm. Out of these, the biggest investor is Ken Fisher’s Fisher Asset Management with a $1 billion stake.

1. Alibaba Group Holding Limited (NYSE:BABA)

Average Share Price Upside: 36%

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese technology conglomerate that is known primarily for its merchant marketplace with the same name. However, the firm has a strong presence in the technology sector, with crucial gaming, artificial intelligence, and other business divisions. The stock is rated Strong Buy on average.

128 of the 943 hedge funds part of Insider Monkey’s Q1 2023 database had bought Alibaba Group Holding Limited (NYSE:BABA)’s shares. Panayotis Takis Sparaggis’s Alkeon Capital Management is the largest shareholder with an investment worth $471 million.

Disclosure: None. You can also take a look at 25 Largest Energy Companies by Market Cap and 15 High Growth Large Cap Stocks to Invest In.

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