5 Best Big Tech Stocks to Buy Right Now

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of  Hedge Fund Holders: 190

Alphabet Inc. (NASDAQ: GOOGL) lies at the backbone of what is known as the modern-day Internet. It is the parent company of Google, which is the world’s largest and most widely used search engine. Both Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) and Google have other companies under their wing which target a diverse range of growing technology sectors such as cloud computing and the Internet of Things (IoT).

By the end of the second quarter this year, 190 of the 873 hedge funds analyzed by Insider Monkey had owned GOOGL shares, which was equal to $26.8 billion.

In the Q2 2021 investor letter of Qualivian Investment Partners, the fund mentioned Alphabet Inc. (NASDAQ: GOOG). Here is what the fund said:

“The opportunity in online advertising remains very attractive for Alphabet’s subsidiary Google. In the recent June quarter, Google’s ad sales grew 69%. Alphabet’s subsidiary YouTube’s ad revenue soared 84%, to $7 billion, in the second quarter, putting the business on par with Netflix, which reported quarterly revenue of $7.3 billion. Netflix is expected to grow sales by 19%, to $29.7 billion this year, while YouTube’s ad revenue is forecast to rise 45%, to $28.7 billion.

Alphabet slashed operating losses for the Google Cloud by more than half, as the business continues to scale, growing at 50%+ clips. Furthermore, the company continues to have potentially new growth options via its investments in autonomous driving (Waymo) and various healthcare businesses such as Verily and Calico.”