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15 Most Profitable Tech Stocks in 2023

In this piece, we will take a look at the 15 most profitable technology stocks in 2023. If you want to skip our introduction to the technology industry and want to take a look at the top five stocks in this list, then check out 5 Most Profitable Tech Stocks in 2023.

August 2023 is a crucial month as the stock market pours over the countless earnings reports for the second calendar quarter. The first half of the year saw mega technology cap stocks soar to record high levels, fueled by heightened optimism and expectations about artificial intelligence. At the same time, the fresh earnings report allowed investors and analysts to gauge the impact of the Federal Reserve’s rapid interest rate hikes on corporate operations, and the dropping inflation’s effects on revenues and consumer spending power.

The first two technology giants to report earnings this season were Meta Platforms, Inc. (NASDAQ:META) and Alphabet Inc. (NASDAQ:GOOGL). Both, like some of their other peers, are at the top of the recent AI wave. Meta, which owns Facebook, is expected to significantly benefit from artificial intelligence when it comes to providing users with advertisements and content recommendations based on their previous Facebook use and preferences in general. Facebook also announced a new artificial intelligence model in August through which it aims to enable users who speak different languages to communicate with each other.

On the earnings front, Meta reported $2.98 in adjusted earnings per share which marked a 16% annual growth. Revenue for the firm stood at $31.9 billion after growing by 11% annually. The earnings report also provided details about Meta’s costly bet on the metaverse which not only saw the firm plow billions of dollars into the technology last year but also change its name to reflect the change. This bet came at the wrong time as far as the stock market was concerned, as investors were looking for cost cutting at a time of high interest rates and high inflation. This led to Meta’s shares being one of the worst performing stocks in 2022, but the shares have roared back to life this year as they are up by 136% year to date.

Microsoft, which is another firm at the heart of the AI wave, grew its revenue by 8% annually as it reported $56.2 billion in net sales. However, the firm’s guidance for the current quarter failed to impress investors and its shares slipped on the stock market as a result. Alphabet’s results were far more impressive than Microsoft’s as the firm beat analyst revenue estimates and posted $74.6 billion in revenue to mark a 7% annual growth.

Finally, the remaining two tech titans, namely Amazon.com, Inc. (NASDAQ:AMZN) and Apple Inc. (NASDAQ:AAPL) showed a mixed bag of results that reflected the current economic turmoil and uncertainty. Starting off with Apple, the largest technology company in the world relied on its services segment to beat top and bottom line analyst estimates. However, Apple, which relies on high end, premium products to earn its keep, saw its revenue drop by 1% annually with its hardware segment leading the drop as consumers felt a pinch to their purchasing power. Amazon, on the other hand, roared on the same day that Apple sounded a bit meek, as it beat analyst estimates for both revenue and net income and also surpassed the guidance estimates for the current quarter.

As to why Amazon managed to thrive in a tough consumer economy, here’s what the firm’s management had to say during the earnings call for the quarter:

Central to our efforts has been the decision to transition our stores’ fulfillment and transportation network from one national network in the United States to a series of eight separate regions serving smaller geographic areas. We keep a broad selection of inventory in each region, making it faster and less expensive to get those products to customers. Regionalization is working and has delivered a 20% reduction in number of touches for our delivered package, a 19% reduction in miles traveled to deliver packages to customers and more than 1,000 basis point increase in deliveries fulfilled within region, which is now at 76%. This is a lot of progress. Sometimes I hear people make the argument that Amazon is chasing faster speed, while driving its costs higher and where it doesn’t matter much to customers.

This argument is incorrect. There are two things to note. First, customers care a lot about faster delivery. We have a lot of data that shows when we make faster delivery promises on a detail page, customers purchase more often, not just a little higher, meaningfully higher. It’s also true that when customers know they can get their items really quickly, it changes their consideration of using us for future purchases too. Second, when shipments come from fulfillment centers that are closer to customers, they travel shorter distances, which cost less in transportation, gets there faster and is better for the environment. There’s a lot of goodness in that equation. This ability to have shipments closer to customers is the result of a lot of work and invention on the regionalization side, placement logic and local in-stock algorithms.

So which are the most profitable technology companies in 2023? The top three are Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Apple Inc. (NASDAQ:AAPL) and you can take a look at the rest below.

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Our Methodology

To compile  our list of the most profitable technology companies in 2023, we first ranked the 40 biggest technology companies traded on U.S. exchanges (with some notable pink sheet exemptions) based on their market capitalization. Then, their latest twelve month period net income (trailing twelve months) was determined, and the top 15 most profitable technology companies this year are listed below.

15 Most Profitable Tech Stocks in 2023

15. Oracle Corporation (NYSE:ORCL)

Latest TTM Net Income: $8.3 billion

Oracle Corporation (NYSE:ORCL) is an enterprise productivity hardware and software provider. The firm has been deepening its partnership with the U.S. government since August 2023, as it has won top security clearance to host sensitive data and teamed up with the White House for an initiative to battle cancer.

During 2023’s June quarter, 84 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Oracle Corporation (NYSE:ORCL). Out of these, the firm’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management since it owns $2.2 billion worth of shares.

Oracle Corporation (NYSE:ORCL) joins Alphabet Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), and Apple Inc. (NASDAQ:AAPL) in our list of the most profitable stocks in 2023.

14. NVIDIA Corporation (NASDAQ:NVDA)

Latest TTM Net Income: $10.78 billion

NVIDIA Corporation (NASDAQ:NVDA) is the rising star and darling of the chip industry these days. The firm’s earnings result for its second quarter of the fiscal year 2024 was a stunner, as NVIDIA grew its revenue by 101% annually and its net income by an unbelievable 422% annually. To add the cherry on top, NVIDIA Corporation (NASDAQ:NVDA) also guided a 170% revenue growth for the current quarter.

As of June 2023, 175 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in NVIDIA Corporation (NASDAQ:NVDA). Out of these, Rajiv Jain’s GQG Partners is the largest investor since it owns 13.9 million shares that are worth $5.8 billion.

13. QUALCOMM Incorporated (NASDAQ:QCOM)

Latest TTM Net Income: $11.8 billion

QUALCOMM Incorporated (NASDAQ:QCOM) is a semiconductor designer that provides processors, modems, and other products for smartphones and gadgets. The firm beat analyst EPS estimates for its second quarter earnings and the stock is rated Buy on average.

Insider Monkey dug through 910 hedge funds for their second quarter of 2023 shareholdings to discover that 73 had invested in the company. Israel Englander’s Millennium Management is QUALCOMM Incorporated (NASDAQ:QCOM)’s biggest shareholder through a stake worth $270 million.

12. Tesla, Inc. (NASDAQ:TSLA)

Latest TTM Net Income: $12.5 billion

Tesla, Inc. (NASDAQ:TSLA) is the world’s largest electric vehicle manufacturer. Its shares have been on a tear this year, having gained 120% year to date after massive losses in 2022. Tesla, Inc. (NASDAQ:TSLA) has also scored important wins this year, having secured several  agreements with other car manufacturers to use its electric vehicle charging infrastructure in the U.S.

Insider Monkey scoured through 910 hedge funds for their investments during Q2 2023 and discovered that 79 had bought and invested in the firm’s shares. Tesla, Inc. (NASDAQ:TSLA)’s biggest hedge fund shareholder is Catherine D. Wood’s ARK Investment Management through an investment worth $1.2 billion.

11. Cisco Systems, Inc. (NASDAQ:CSCO)

Latest TTM Net Income: $12.6 billion

Cisco Systems, Inc. (NASDAQ:CSCO) is an enterprise communications products provider. Even as there is general caution in the market about enterprise technology firms, Cisco Systems, Inc. (NASDAQ:CSCO) has beaten analyst EPS estimates in all four of its latest quarters. Analysts have penned in a roughly $4 upside to the shares as well.

55 of the 910 hedge funds part of Insider Monkey’s database had held a stake in Cisco Systems, Inc. (NASDAQ:CSCO) as of Q2 2023. Out of these, the largest investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital since it owns 20.7 million shares that are worth $1 billion.

10. Broadcom Inc. (NASDAQ:AVGO)

Latest TTM Net Income: $12.7 billion

Broadcom Inc. (NASDAQ:AVGO) is another connectivity products provider whose chips are used in modems, smartphones, and other devices. Amidst a broader slowdown in the chip sector, the firm stands to benefit from the shift to 5G. It also received praise from Bernstein analyst Stacy Rasgon lately who shared in a recent interview that Broadcom Inc. (NASDAQ:AVGO) can also benefit from the growing demand for AI products.

By the end of June 2023, 72 out of the 910 hedge funds profiled by Insider Monkey had invested in the firm. Broadcom Inc. (NASDAQ:AVGO)’s biggest investor among these is Ken Fisher’s Fisher Asset Management through an investment worth $1.6 billion.

9. Amazon.com, Inc. (NASDAQ:AMZN)

Latest TTM Net Income: $13.07 billion

Amazon.com, Inc. (NASDAQ:AMZN) is the largest electronic commerce retailer in the world, which managed to post strong third quarter revenue and earnings guidance through a well time Prime Discount day that leveraged customer pain from high inflation.

Insider Monkey scoured through 910 hedge funds for their second quarter of 2023 investments and found out that 278 had bought Amazon.com, Inc. (NASDAQ:AMZN)’s shares. Ken Fisher’s Fisher Asset Management is the largest stakeholder since it owns 40.6 million shares that are worth $5.3 billion.

8. Alibaba Group Holding Limited (NYSE:BABA)

Latest TTM Net Income: $11.61 billion (1CNY = 0.14USD)

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese technology conglomerate with e commerce, video gaming, and other business divisions. It is one of the few stocks on our list that is rated as Strong Buy by analysts on average, and the firm has managed to hold its ground despite a slowing Chinese economy.

After digging through 910 hedge funds for their investments during this year’s second quarter, Insider Monkey discovered that 112 had held a stake in the company. Alibaba Group Holding Limited (NYSE:BABA)’s biggest hedge fund shareholder is David Tepper’s Appaloosa Management LP through a stake worth $372 million.

7. Meta Platforms, Inc. (NASDAQ:META)

Latest TTM Net Income: $23 billion

Meta Platforms, Inc. (NASDAQ:META) is a social media and communications company. The firm is currently leveraging artificial intelligence to improve its products after it announced a new AI service to translate languages on Facebook and allow people from different nationalities to communicate with each other.

During Q2 2023, 225 out of the 910 hedge funds part of Insider Monkey’s database had bought Meta Platforms, Inc. (NASDAQ:META)’s shares. Out of these, the firm’s largest shareholder is Peter Rathjens, Bruce Clarke And John Campbell’s Arrowstreet Capital through a $3 billion stake that comes via 10.7 million shares.

6. Tencent Holdings Limited (OTCMKTS:TCEHY)

Latest TTM Net Income: $26.1 billion (1CNY = 0.14USD)

Tencent Holdings Limited (OTCMKTS:TCEHY) is a Chinese technology conglomerate with financial tech,  entertainment, and other businesses. A Chinese economic slowdown has affected the firm’s financial performance, as it has missed analyst EPS in three of its four latest quarters.

Microsoft Corporation (NASDAQ:MSFT), Tencent Holdings Limited (OTCMKTS:TCEHY), Alphabet Inc. (NASDAQ:GOOG), and Apple Inc. (NASDAQ:AAPL) are some of the most profitable stocks in 2023.

Click to continue reading and see 5 Most Profitable Tech Stocks in 2023.

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Disclosure: None. 15 Most Profitable Tech Stocks in 2023 is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

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Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

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