5 Best Long-Term Tech Stocks To Buy

In this article, we will take a look at the 5 best tech stocks for long-term investment. To go through our analysis of the tech industry and its recent trends, you can go directly to see the 10 Best Long-Term Tech Stocks To Buy.

5. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 112

Adobe Inc. (NASDAQ:ADBE) stands as a versatile software company providing a diverse array of products and solutions, enabling individuals, teams, and enterprises to create, publish, and promote content. Widely recognized as one of the most preferred choices for content creators, students, professionals, and consumers, Adobe Inc. (NASDAQ:ADBE) also operates a Digital Experience segment, catering to brands and businesses in the creation, management, implementation, and monetization of customer experiences.

On November 14, investment advisory Evercore maintained an Outperform rating on Adobe Inc. (NASDAQ:ADBE) stock and raised the price target to $700 from $605.

Among the 910 hedge funds featured in Insider Monkey’s third-quarter 2023 database, 112 had invested in the company. The most substantial hedge fund investment in Adobe Inc. (NASDAQ:ADBE) for the September quarter came from Ken Fisher’s Fisher Asset Management, which held 4.5 million shares valued at $2.3 billion.

Here is what Polen Global Growth has to say about Adobe Inc. (NASDAQ:ADBE) in its Q3 2023 investor letter:

“Both Alphabet and Adobe’s businesses continue to perform well. With respect to Adobe, the most recent quarter delivered more of the same with constant currency revenue growing 13%, margin expansion, and over 2% of shares outstanding repurchased for non-GAAP earnings growth of over 20%. We believe its approach to GenAI through Firefly, which guarantees safe content because it trains on Adobe Stock, will continue to be attractive to enterprises. The counter to GenAI, and something we are keeping an eye on with Alphabet and Adobe, is that it requires heavy investment. While both businesses can leverage their scale and manage costs in other areas, we expect the investment in future growth through GenAI will weigh on company-wide margins over the near term.”