15 Best Non-Tech Stocks to Buy According to Billionaires

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13. Bank of America Corporation (NYSE:BAC)

Number of Billionaire Investors: 18

Number of Hedge Fund Holders: 117

Bank of America Corporation (NYSE:BAC) ranks among the best non-tech stocks to buy according to billionaires. On July 17, UBS reaffirmed its buy rating and $55 price target for Bank of America Corporation (NYSE:BAC) in the wake of the bank’s second-quarter earnings report.

Bank of America Corporation (NYSE:BAC) reported an EPS of $0.89, which includes a 6-cent tax rate reduction. According to UBS analyst Erika Najarian, a higher market balance sheet is part of why the bank’s net interest income fell just short of consensus forecasts.

The bank’s fixed income, currency, and commodities (FICC) trading revenue came in at $3.2 billion, 10% higher than anticipated, while its revenue from equity trading achieved $2.1 billion, in line with expectations. Due to a 24% outperformance in the equity capital markets, investment banking fees also beat Street predictions by a slight margin.

Bank of America Corporation (NYSE:BAC) is a financial holding company that offers a variety of services, including savings accounts, deposits, wealth and cash management, investment funds, online banking, and other financial products.

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