In this article, we discuss the 5 best hot stocks to buy right now. If you want to read our detailed analysis of these stocks, go directly to 10 Best Hot Stocks To Buy Right Now.
5. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 110
Nvidia Corporation is a California-based multinational technology company involved in the design and manufacture of computer graphics processors and chip units for the gaming, computing and automotive markets.
Of the 924 hedge funds tracked by Insider Monkey, 110 hedge funds have positions in NVIDIA Corporation (NASDAQ:NVDA) at the end of the fourth quarter of 2021, compared to 83 funds in the previous quarter. Fisher Asset Management is the company’s largest shareholder, with shares worth $1.5 billion.
Harding Loevner mentioned NVIDIA Corporation (NASDAQ:NVDA) in its second-quarter investor letter. Here is what the firm has to say:
“Within IT, shares of US-based computer chip developer NVIDIA continued their climb as rising demand across segments-from work-from-home laptops to data centers to cryptocurrency mining rigs-led to shortages that translated into surging prices for its chips. Such was the windfall that NVIDIA even made technical changes to some of its products to make them towards what it believes are more sustainable uses. Less attractive to cryptocurrency miners, to steer scarce supply viewed by geography, the lion’s share of excess returns came from good stock performance in the US. In addition to the contributions from NVIDIA and our health care holdings, a pair of IT software and service providers also aided relative returns.”
4. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 134
Apple Inc. (NASDAQ:AAPL) recently made headlines after it was reported that the company was venturing into the electric vehicle market with the introduction of its self-driving car, expected to debut as early as 2025.
Out of the hedge funds tracked by Insider Monkey, Warren Buffett’s Berkshire Hathaway is the leading stakeholder in Apple Inc. (NASDAQ:AAPL), with over 887 million shares worth over $157.5 billion.
ClearBridge Investments mentioned Apple Inc. (NASDAQ:AAPL) in its first-quarter 2021 investor letter. Here is what the firm has to say:
“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”
3. PayPal Holdings, Inc. (NASDAQ:PYPL)
Number of Hedge Fund Holders: 110
PayPal Holdings, Inc. (NASDAQ:PYPL) is an American multinational financial technology company operating an online payments system, enabling the digital transfer of funds across the world, with over 416 million active accounts as of Q3 2021.
PYPL stock has been losing value over the past few weeks amid a broader decline in tech stocks and the company’s weak earnings report. However, some analysts believe the fall offers an attractive entry point.
Ken Fisher’s Fisher Asset Management is the biggest stakeholder of PayPal Holdings, Inc. (NASDAQ:PYPL) as of the end of the fourth quarter, according to the data tracked by Insider Monkey. Overall, 110 funds were bullish on PayPal Holdings, Inc. (NASDAQ:PYPL) by the end of the December quarter, versus the 123 funds in the previous quarter.
Alger mentioned PayPal Holdings, Inc. (NASDAQ:PYPL) in its Q3 2021 investor letter. Here is what the firm has to say:
“PayPal Holdings, Inc. was among top detractors from performance. PayPal is a pure play on e-commerce and electronic payments which is driving the company’s high unit volume growth. As a digital payments company, it is helping to facilitate the shift to a cashless society. The coronavirus pandemic has significantly accelerated the adoption of e-commerce and the utilization of digital payments platforms. In our view, PayPal is currently positioned to benefit the strength in e-commerce trends, including increasing net new active users and increased engagement per user. PayPal also has launched a service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account. PayPal’s vision is to become a Super App that integrates payments, commerce and financial services, as well as crypto capabilities. After outperforming earlier in the year, the performance of PayPal shares weakened in the third quarter with the company facing potentially higher transaction expenses and credit losses. The higher transaction expenses are driven by a shift by consumers to the higher cost travel and entertainment categories which skew toward less profitable credit transactions.”
2. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 155
At the end of the fourth quarter of 2021, 158 hedge funds tracked by Insider Monkey reported owning stakes in Alphabet Inc. (NASDAQ:GOOG), compared to 156 funds in the previous quarter. The total value of these stakes is over $36.6 billion.
On November 2, Morgan Stanley analyst Brian Nowak raised the price target on Alphabet Inc. (NASDAQ:GOOG) shares to $3,200 from $3,000, and kept an Overweight rating on the shares of the company.
Here is what Polen Global Growth has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:
“Alphabet continue to perform well as the business have grown through the pandemic. Alphabet has benefited as more people spend more time online and advertisers continued to shift towards digital ads. Those leading in the new world are accelerating investment, while those lagging are investing to close the gap. This is a great example of the pandemic accelerating trends that were already in motion, making leaders more resilient.”
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 271
Amazon.com, Inc. (NASDAQ:AMZN) tops our list of the best hot stocks to buy right now. A Washington-based multinational e-commerce company that is involved in the cloud computing, artificial intelligence, and digital streaming sectors, Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest companies in the U.S. technology sector.
Of the 924 elite hedge funds tracked by Insider Monkey, 279 hedge funds reported owning stakes in Amazon.com, Inc. (NASDAQ:AMZN) at the end of the December quarter, up from 242 in the previous quarter. The total value of these stakes is over $49.1 billion. Ken Fisher of Fisher Asset Management is among the leading shareholders in the company, with 2.2 million shares worth $7.2 billion.
On November 17, Goldman Sachs analyst Eric Sheridan kept a Buy rating alongside a $4,100 price target on the shares of Amazon.com, Inc. (NASDAQ:AMZN). The analyst names the e-commerce company as his top pick for 2022.
Polen Capital mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter. Here is what the firm has to say:
“Amazon has also lagged as its revenue growth is slowing on the very difficult comparisons from last year when this behemoth was growing revenue by over 40%. We still expect exceptional long-term growth and significant margin expansion as the fastest growing (and now large) segments of Amazon are also generating the highest margins.”
You can also take a look at 10 Best Stocks to Buy With 50+ Years of Dividend Increases and What are the Best Stocks to Buy Right Now?
