Keeping track of politicians’ stock investments is a good way of determining which stocks may receive favorable policy treatment from the government down the road. By looking at the committees these politicians sit in, and the policy matters they are dealing with, investors can gain insights into what’s to follow for certain industries.
The STOCK Act requires these politicians to report their trades within 45 days of placing them. These disclosures are then made public, making the process as transparent as possible. While looking at some recent disclosures, we noticed certain politicians who stood out. One such politician was Trump’s fellow Republican Marjorie Taylor Greene, who bought stocks on the 3rd and 4th of April, two days when the S&P lost over 10% of its value!
Some of these stocks have already recovered from their lows hit that day, showing how Ms Greene was able to buy stocks that recovered swiftly despite the broader market continuing to struggle.
To come up with our list of 10 tech stocks that Trump’s fellow Republican bought amid the market rout, we looked at the Republican’s two recent filings on the 7th and 11th of April, where she reported these trades. We then ranked them by the number of hedge funds that hold the company’s stock in their portfolio.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. Impinj, Inc. (NASDAQ:PI)
Number of Hedge Fund Holders: 37
Impinj, Inc. is a cloud connectivity platform operator. The company’s platform wirelessly links items and provides data about the linked items to consumer and business applications. It mainly serves supply chain and logistics, aviation, data centers, retail, automotive, healthcare, banking, industrial, and manufacturing, and other markets.
According to the Co-Founder and CEO of Impinj, Chris Diorio, the company has delivered four consecutive years of double-digit revenue growth. This growth was fueled by the strong demand in the general merchandise, supply chain and logistics, and retail apparel. PI reported an impressive 30% YoY revenue growth for the most recent quarter, while for the full-year 2024, the company recorded revenue growth of 19%.
Based on the strong earnings, the firm provided a positive future outlook for the company. As per the guidance, PI management anticipates revenue to be in the range of $70 million and $73 million for Q1 2025. It represents a sequential decline because of the absence of large program ramps and excess endpoint IC inventory. Affected by lower average selling prices and product mix, gross margin will be at its lowest point for the year in Q1. However, with the help of cost efficiencies and new product launches, improvements are expected in the coming quarters.
9. Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 63
Dell Technologies Inc. is a manufacturer, developer, designer, seller, supporter, and marketer of different integrated and comprehensive solutions, services, and products. It operates through Client Solutions Group (CSG) and Infrastructure Solutions Group (ISG) segments. President Donald Trump’s administration recently announced the exemption of computers, smartphones, and electronics from tariffs.
This move has eased pressure on the company, resulting in a recovery in stock price. Moreover, the stock has already recovered over 15% since Ms. Greene bought the shares on the 4th of April.
Looking at the company’s performance in Q1 2025, Global PC shipments, including notebooks, workstations, and desktops, increased by 9.4%. This growth was driven by Original Equipment Manufacturers (OEMs) speeding up shipments to the United States before tariff changes. The tech firm reported a 3% shipment growth YoY in Q1 by shipping 9.5 million units.
Over the last few years, the company’s AI servers and networking business segment has been the primary catalyst for its growth. With significant investments in the AI-optimized server products, Dell bounced back and achieved revenue growth in FY 2025.
The firm aims for steady long-term growth, with targeted annual revenue growth of 3-4%. Its Infrastructure Solutions Group is anticipated to grow at a faster pace, expanding 6-8% annually.
8. QUALCOMM Incorporated (NASDAQ:QCOM)
Number of Hedge Fund Holders: 79
QUALCOMM Incorporated is the developer and marketer of foundational technologies. It offers its technologies to the global wireless industry. The company operates in Qualcomm Technology Licensing (QTL), Qualcomm Strategic Initiatives (QSI), and Qualcomm CDMA Technologies (QCT) segments. The stock is up 7% since Ms. Green bought her stake earlier in the month.
At the start of this month, Qualcomm announced the acquisition of the generative AI division of VinAI, which is an AI research company. The value of this deal has not been disclosed in the announcement. The company aims to expand its AI capabilities through this acquisition. This is the firm’s second acquisition so far this year.
The Senior Vice President of Engineering of Qualcomm said:
“This acquisition underscores our commitment to dedicating the necessary resources to R&D that makes us the driving force behind the next wave of AI innovation, by bringing in high-caliber talent from VinAI, we are strengthening our ability to deliver cutting-edge AI solutions that will benefit a wide range of industries and consumers.”
Qualcomm launched its latest X85 modem last month, which features the latest 5G AI processor. This cutting-edge technology supports high-performance connectivity requirements for advanced AI tasks. With all these ongoing advancements and the current valuation, the stock presents a buying opportunity.
7. Applied Materials (NASDAQ:AMAT)
Number of Hedge Fund Holders: 80
Applied Materials is primarily known for providing services, software, and manufacturing equipment for the semiconductor industry. However, the company also offers its products and services to other industries like electronics and displays. The company’s stock is down 16% this year due to the cyclicality of the industry as well as the semiconductor trade war with China.
A few weeks ago, Jeffries upgraded the stock from Hold to Buy, boosting the price target from $185 to $195. The firm expects recovery in both the DRAM and NAND markets. Moreover, AMAT is relatively favorably poised because of its limited exposure to China as compared to its peers.
AMAT also recently acquired a 9% stake in BE Semiconductor Industries, a Netherlands-based firm. The company clarified that the stake does not require regulatory approval and it is also not seeking a position on the board. The two firms have worked together since 2020 and intend to continue working on the hybrid bonding solution, a technology integral to modern chips used in AI.
6. Lam Research Corp (NASDAQ:LRCX)
Number of Hedge Fund Holders: 84
Lam Research plays a critical role in the semiconductor supply chain, offering services such as the design and manufacturing of semiconductor equipment. It mainly covers the regions of North America, Europe, East Asia, and Southeast Asia.
The firm is expected to post very strong earnings this week as the demand for wafer fab equipment has stayed strong, particularly from China. The real question for the company is whether it can manage to stick to the guidance announced previously. The tough macro environment suggests the company is unlikely to improve on its guidance, so it seems to have peaked in that department, something that is keeping the stock under pressure.
Here’s what Morgan Stanley analyst Joseph Moore thinks about the upcoming earnings:
“Our view is that the company may be able to guide in-line or slightly better than street expectation, but macro uncertainty is unlikely to lead to street expectations being revised up any further from here, given expectations are already quite high.”
5. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 86
ASML Holding N.V. operates as a lithography solutions provider for the production, upgrading, development, marketing, servicing, and sales of advanced semiconductor equipment systems. The company provides metrology, inspection, and lithography systems. It also offers software, hardware, and services to chipmakers for the production of patterns of integrated circuits.
The company reported its Q1 2025 results a few days ago. Revenue growth for the quarter was recorded at 46.4%, along with the net booking growth of 9%. Net income came in at 30.4% of the total sales. Due to advanced configurations and favorable EUV product mix, the gross margin was better than expected. Operating expenses were in accordance with expectations.
Based on strong earnings, the company guided for a promising 2025. ASML maintained its revenue guidance of €30 billion to €35 billion for the year. The growth is anticipated to be aided by Logic and Memory demand. Although AI-related applications are expected to be the major growth driver. Gross margin is projected to be in a range of 51%-53%. Despite uncertainties due to the tariff-related concerns and macroeconomic conditions, management is confident that 2026 will be a growth year.
4. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 96
Advanced Micro Devices, Inc. is a semiconductor company that operates through Embedded, Data Center, Gaming, and Client segments. It offers a range of products, including artificial intelligence (AI) accelerators, x86 microprocessors, and other products. The stock has fallen 32.62% in the last 6 months.
Though the semiconductor industry is well-positioned for double-digit growth in 2025, investors’ confidence has been shaken because of the recent potential economic downturn in the US and issues over tariffs. JP Morgan recently estimated a 10% hit to the company’s earnings following export restrictions when selling chips to China:
“Assuming a 45-55% gross margin on the $800M inventory charge, we estimate the revenue impact to AMD is $1.5-$1.8B on a total of $8B in GPU revenues this year and $16B in datacenter revenue, or about 10% of the datacenter revenue.”
In the previous quarter, the company reported that its data center revenue grew at a solid annual growth rate of 69%. With a strong balance sheet and healthier cash flow generation, the company’s turnaround prospects remain attractive according to the management:
“Without guiding for a specific number in 2025, one of the comments that we made is we see this business growing to tens of billions, as we go through the next couple of years. And that gives you a view of the confidence that we have in the business and particularly our road map is getting stronger with each generation, right?”
3. Adobe Inc. (NASDAQ:ADBE)
Number of Hedge Fund Holders: 117
Adobe Inc. operates in Digital Experience, Digital Media, and Publishing and Advertising segments. It offers training, technical support, consulting, customer management, and learning services.
KeyBanc Capital Markets upgraded the tech firm last month from Underweight to Sector Weight, citing the limited downside risk and fair valuation. Analysts led by Jackson Ader think that there is a limited chance for further decrease and predict stable fundamentals throughout the fiscal year.
At the end of March, the company received another upgrade by Argus. Citing potential for double-digit growth in earnings per share and revenue fueled by its generative artificial intelligence tools, Argus reiterated its Buy rating on the tech giant. Argus also maintained its price target of $600 on the stock.
Seeing that the stock has corrected considerably from those levels, it now sits at an even attractive price than last month. Argus analyst Joseph Bonner highlighted the company’s growth potential by saying:
“We think that Adobe will continue to ramp up investment in new product extensions, particularly around generative AI, as it pursues a rapidly expanding total addressable market.”
The firm anticipates its artificial intelligence product revenue to double by the end of 2025 from $125 million to $250 million.
2. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 166
Apple Inc. is a manufacturer, designer, and marketer of tablets, smartphones, wearables, personal computers, and accessories. It provides iPad, iPhone, Mac, and wearables. The company also offers AppleCare support and cloud services and operates different platforms.
A few days ago, the firm received an upgrade from KeyBanc Capital Markets to Sector Weight from Underweight. The upgrade came as the Trump administration announced a temporary exemption on tariffs for Chinese electronics. According to KeyBanc analysts led by Brandon Nispel, an exception on smartphones from tariffs is likely the most optimistic scenario they could think of. As a result of this upgrade, the stock surged about 6%.
Similar sentiment was highlighted by other analysts. Wedbush reiterated its Outperform rating with a price target of $250 on the company. Wedbush analyst Daniel Ives commented:
“From all the chaos and confusion, our 4 takeaways for the likes of Apple in particular, are that Apple has one to two months to plan its supply chain for a tariff component with India likely the biggest focus area for expanded iPhone production; the company gets some breathing room so it does not have to automatically start passing massive price increases to U.S. consumers.”
Despite this analyst optimism, there is no doubt that with stagnant revenue growth, tariff risk, and high valuation, Apple isn’t the most attractive investment out there and continues to remain under pressure.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 339
Amazon.com engages in multiple businesses, including advertising, subscription services, cloud services, and its most popular Amazon.com ecommerce platform. The company announces its quarterly earnings next week, and the stock is struggling leading up to the important day.
Wells Fargo reported yesterday that the company had paused leases on some data centers. The news is similar to what Microsoft reported earlier in the year. For context, this does not affect already signed leases, it is just a case of the company slowing down and delaying the execution of future leases.
Whether this development is concerning or not remains to be seen. The company itself is calling it routine capacity management. Meanwhile, analysts are also on the edge, with Raymond James downgrading the stock and cutting the price target from $275 to $195, citing China exposure as the main reason.
Morgan Stanley is also cautious, clearly saying that it may take some time before the investment bank can get some clarity on how the tariff threat is likely to play out. The bank has a price target of $245 on the stock.
While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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