5 Best FAANG Stocks to Buy Now

2. Microsoft Corporation (NASDAQ: MSFT)

Number of Hedge Fund Holders: 251

Microsoft Corporation (NASDAQ: MSFT) ranks 2nd on our list of the 10 best FAANG stocks to buy now. The Washington-based tech company sells devices, software, cloud computing service through Azure and business solutions. 

On July 28, JPMorgan analyst Mark Murphy maintained an Overweight rating on Microsoft Corporation (NASDAQ: MSFT) and increased the firm’s price target to $310 per share from the previous $300, highlighting the tech company’s exceptional recent quarter result.

According to recent reports, Microsoft Corporation (NASDAQ: MSFT) is in active discussions to invest in Indian budget hotel chain Oyo at a $9 billion valuation ahead of its intended IPO. Meanwhile, in the last week of July, Microsoft Corporation (NASDAQ: MSFT) announced the acquisition of Suplari, an AI-powered analytics firm, to boost the tech corporation’s financial data analysis and management. The shares of Microsoft Corporation (NASDAQ: MSFT) jumped 3% in the last month.

The company has a market cap of $2.14 trillion. In the fourth quarter of the fiscal year 2021, Microsoft Corporation (NASDAQ: MSFT) reported an EPS of $2.17, beating estimates by $0.25. The company’s fourth-quarter revenue came in at $46.2 billion, increasing 21% year over year and beating revenue estimates by $1.85 billion. The stock has gained 13% in the past three months.

By the end of the first quarter of 2021, 251 hedge funds followed by Insider Monkey held stakes in Microsoft Corporation (NASDAQ: MSFT) with a total value of $58.9 billion, down from 258 hedge funds $52.8 billion, respectively, a quarter earlier.