5 Best Augmented Reality Stocks to Invest In

3. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 209

Alphabet Inc. (NASDAQ:GOOGL) is among the 5 best augmented reality stocks to invest in. The company’s AR products include ARCore, a platform for developing augmented reality experiences, and Google Lens which is an image recognition tool. The company has also added AR functionalities to its already existing products such as Google Maps and Google Translate.

This February, Alphabet Inc. (NASDAQ:GOOGL) announced earnings for the fiscal fourth quarter of 2021. The company registered an EPS of $30.69 and beat estimates by $3.41. Moreover, Alphabet Inc. (NASDAQ:GOOGL) reported quarterly revenues of $75.33 billion, up 32.39% year over year, and outperformed market consensus by $3.50 billion.

This March, Tigress Financial analyst Ivan Feinseth raised his price target on Alphabet Inc. (NASDAQ:GOOGL) to $3,670 from $3,540 and maintained a Strong Buy rating. The analyst sees upside to the stock as the company continues to build on its strength in areas including Search, mobile, Cloud, data center, e-commerce, entertainment, home automation, autonomous vehicles, and health and fitness.

Insider Monkey found 209 hedge funds that held long positions in Alphabet Inc. (NASDAQ:GOOGL) at the end of the fourth quarter of 2021. The total stakes of these funds in the company came to $32.3 billion, up from $28.5 billion in the previous quarter with 195 positions. TCI Fund Management is the dominating shareholder in Alphabet Inc. (NASDAQ:GOOG), having stakes of more than $8.5 billion in the company as of the fourth quarter of 2021.

Here is what Vulcan Value Partners had to say about Alphabet Inc. (NASDAQ:GOOGL) in its fourth-quarter 2021 investor letter:

“In contrast, we made a different kind of mistake about a decade ago. Google, now Alphabet, performed very well for us while we owned it. The company kept outperforming our assumptions and we kept lowering them to be conservative. “Trees do not grow to the sky.” The stock kept going up and our value grew but did not keep pace with the stock. It hit our estimate of fair value and we sold it with a nice gain, patting ourselves on the back. We kept following the company and what they actually did over the next several years was roughly double the assumptions we used to value it. Therefore, our value was too conservative, and we sold it too cheaply, missing many years of compounding. Fortunately, we experienced some volatility several years ago that allowed us to purchase Alphabet (Google) again with a margin of safety.”