5 Best Edge Computing Stocks to Buy

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156

Alphabet Inc. (NASDAQ:GOOG) is an industry-leader in edge computing, allowing businesses to leverage the power of cloud computing while maintaining control of their data. The company is investing heavily in edge computing solutions, such as its Google Distributed Cloud Platform, to help businesses reduce latency and increase efficiency. Alphabet Inc. (NASDAQ:GOOG) is placed third on our list of the best edge computing stocks to buy now.

As of August 3, Tigress Financial analyst Ivan Feinseth has a $186 price target and Strong Buy rating on Alphabet Inc. (NASDAQ:GOOG).

At the end of Q3 2022, Alphabet Inc. (NASDAQ:GOOG) was a part of 156 investors’ portfolios that held collective stakes worth $19.31 billion. Of those, TCI Fund Management was the largest stockholder in the company and held a position worth $5.04 billion.

Here is what Stewart Asset Management had to say about Alphabet Inc. (NASDAQ:GOOG) in its third-quarter 2022 investor letter:

“We invest in businesses with strong, resilient earnings growth which are less cyclical. In the pandemic recession of 2020, the aggregate earnings of the portfolios we manage did not decline year-over-year, and in fact grew, albeit modestly. Looking at the Great Recession which began at year-end 2007 and lasted to mid-year 2009 is helpful too. Our four largest current holdings in the portfolio weathered that period well. Alphabet (NASDAQ:GOOG), then called Google, reported earnings that doubled from 2007 to 2010.”