4 Best Tech Stocks to Buy According to Hedge Funds

Page 1 of 4

In this article, we will be taking a look at the 4 best tech stocks to buy according to hedge funds. To read our analysis of the tech industry, you can go the 9 Best Tech Stocks to Buy According to Hedge Funds.

5. Alphabet Inc. (NASDAQ:GOOG)

Percentage of Invesco QQQ Trust’s Portfolio: 4.19%

Number of Hedge Fund Holders: 153

Alphabet Inc. (NASDAQ:GOOG), based in Mountain View, California, is the parent company of several companies including the Google, Verily Life Sciences, GV (formerly Google Ventures) and Calico. Majority of its revenue is generated by Google Services which comprises of ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Alphabet Inc. (NASDAQ:GOOG) was ranked #4 on the list of Invesco QQQ Trust’s holdings based on its portfolio weight of 4.19% as of Q2 2022.

Alphabet Inc. (NASDAQ:GOOG) announced the release of Android 13 earlier in August, adding multiple new features focused on personalization and privacy. Alphabet Inc. (NASDAQ:GOOG) released the financial results for Q2 2022 earlier this year in July. Its revenue increased by 13% y-o-y to $69.7 billion, while its net income decreased by 16% y-o-y to $16 billion. It reported an EPS of $1.21, missing the consensus by $0.08.

Alphabet Inc. (NASDAQ:GOOG) is one of the most commonly owned stock among the 895 hedge funds tracked by Insider Monkey. As of Q2 2022, 153 hedge funds owned shares of Alphabet Inc. (NASDAQ:GOOG), valued at $22.3 billion.

Page 1 of 4