Hedge Funds Are Betting Big on These Five Tech Stocks

Technology stocks remain to be popular choices among investors, although there are some tech companies that are more preferred than others. From the latest round of 13F filings, we have taken the tech stocks that hedge funds have been the most bullish on. Earlier today we have discussed the first five, with Google Inc (NASDAQ:GOOG), Apple Inc. (NASDAQ:AAPL), or Microsoft Corporation (NASDAQ:MSFT) as the leaders of the list. In this piece we will take a look at the second part of the list and discuss other five tech stocks in which most hedge funds disclosed significant long stakes.

Overall, at the end of 2013, 97 hedge funds held shares of eBay Inc (NASDAQ:EBAY), up from 76 in the previous quarter. eBay is appreciated as ‘Overweight’ and has an average target of $63, which is well above the current price of the stock. Rob Citrone‘s Discovery Capital Management owns a $698 million stake in eBay Inc (NASDAQ:EBAY), which contains more than 12.7 million shares.

Amazon.com (NASDAQ:AMZN), The Washington Post (NYSE:WPO), Berkshire Hathaway Inc. (NYSE:BRK.A), Apple Inc. (NASDAQ:AAPL)

Micron Technology, Inc. (NASDAQ:MU) is another popular tech stock, in which 97 funds disclosed holding bullish stakes, up from 74 three months earlier. Micron Technology trades at 16 times above its earnings and has a beta of around 1.7. Greenlight Capital, led by David Einhorn, has added Micron Technology, Inc. (NASDAQ:MU) to its equity portfolio during the October-December period and reported a boatload of shares: 47.7 million, worth over $1 billion.

The next on the list is Priceline.com Inc (NASDAQ:PCLN), on which also 97 hedge funds have been bullish, up from 83 previously. The stock of Priceline almost doubled over the past year, and currently sports a forward P/E of 21. Tiger Global Management, led by Chase Coleman and Feroz Dewan is not just one of the largest, but also one of the bullish shareholders of Priceline.com Inc (NASDAQ:PCLN), raising the stake by 24% to 708,000 shares.

In Visa Inc (NYSE:V) 96 hedge funds reported long stakes, up from 90 earlier. Visa also trades at 21 times above its forward earnings estimates and sports a price/earnings to growth ratio of around 1.5, which places the stock in the ‘Buy’ area. One of the hedge funds that is bullish on Visa Inc (NYSE:V) is Ken Fisher‘s Fisher Asset Management, which holds close to 3.5 million shares.

And the last, but not the least comes Amazon.com, Inc. (NASDAQ:AMZN), which gained a huge popularity among hedge funds with 94 reporting the stock in their latest 13Fs, versus 70 disclosing stakes at the end of September. One of the most bullish has been Israel Englander‘s Millennium Management, which raised the stake by an eightfold to 204,000 shares, worth over $81 million in aggregate.

Disclosure: none

Recommended Reading:

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