In this article we will take a look at the 5 best NASDAQ Stocks to buy now. You can skip our detailed analysis of these stocks and go directly to 10 Best NASDAQ Stocks to Buy Now.
5. Nvidia Corporation (NASDAQ: NVDA)
Nvidia Corporation (NASDAQ: NVDA) is a California-based firm that develops graphics systems for video games and chipsets for smartphones and automobiles. The company also makes handheld game consoles and offers cloud gaming services as well. The company has a market cap of more than $350 billion and posted more than $16 billion in revenue in 2020. The share price of the firm has been rising as demand rises amid a shortage of chips around the world. Nvidia ranks fifth on our list of 10 best NASDAQ stocks to buy for now.
At the end of the fourth quarter of 2020, 88 hedge funds out of 887 in the Insider Monkey database held stakes in Nvidia, up from 82 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $8.6 billion, up from $7.6 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group held the most shares – 4.6 million – worth more than $2.4 billion. GQG Partners was 2nd with 3.7 million shares worth almost $1.9 billion.
4. Tesla, Inc. (NASDAQ: TSLA)
Tesla, Inc. (NASDAQ: TSLA) is a California-based automaker that develops and sells electric vehicles around the world. The firm also has stakes in the clean energy business. It makes batteries, solar panels and other energy-related products as well. It has a market cap of over $649 billion and posted more than $31 billion in revenue in December 2020. Earlier this month, Vancouver-based investment firm Canaccord Genuity upgraded Tesla to a Buy rating and set the price target of shares at $1,071. Tesla ranks fourth on our list of 10 best NASDAQ stocks.
At the end of the fourth quarter of 2020, 68 hedge funds out of 887 in the Insider Monkey database held stakes in Tesla, up from 67 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $12.3 billion, up from $8.1 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group held the most shares – 28 million – worth more than $20 billion. OZ Management was 2nd with 15 million shares worth almost $10 billion.
3. Lam Research Corporation (NASDAQ: LRCX)
Lam Research Corporation (NASDAQ: LRCX) is a California-based company that designs, manufactures, and markets semiconductor processing equipment. It has a market cap of over $92 billion and posted more than $10 billion in revenue in June 2020. The share prices of the firm have gained more than 35% since the beginning of the year and are expected to soar further amid rise in demand for semiconductor chips. Lam Research is placed third on our list of 10 best NASDAQ stocks to buy for now.
At the end of the fourth quarter of 2020, 56 hedge funds out of 887 in the Insider Monkey database held stakes in Lam, up from 55 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $2.6 billion, up from $2.2 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management held the most shares – 957,559 – worth more than $450 million. Coatue Management was 2nd with 952,193 shares worth almost $449 million.
2. Amazon.com, Inc. (NASDAQ: AMZN)
Amazon.com, Inc. (NASDAQ: AMZN) is a Seattle-based multinational technology corporation primarily operating in the e-commerce business. It has a market cap of over $1.65 trillion and posted more than $386 billion in revenue in December 2020. Earlier this month, WSJ reported that Amazon had increased digital advertising revenue to more than 10% of the global total, closing the gap on competitors who stood at more than 20%. Last week, global investment firm Evercore named Amazon as one of the top technology stocks for the first half of 2021. Amazon features second on our list of 10 best NASDAQ stocks to buy for now.
At the end of the fourth quarter of 2020, 273 hedge funds out of 887 in the Insider Monkey database held stakes in Amazon, up from 245 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $51.5 billion, up from $43.7 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group held the most shares – 4.9 million – worth more than $16 billion. SB Management was 2nd with 2.2 million shares worth almost $7.3 billion.
1. PayPal Holdings, Inc. (NASDAQ: PYPL)
PayPal Holdings, Inc. (NASDAQ: PYPL) is a California-based online payments firm that operates in a majority of countries which accept internet-based money transfers. PayPal serves as an electronic alternative to cheques, money orders and cash. It has a market cap of more than $53 billion. Last month, PayPal announced a new feature that would allow users to checkout with cryptocurrency. The shares of the firm have soared almost 26% since the beginning of the year. It ranks first on our list of 10 best NASDAQ stocks to buy now.
At the end of the fourth quarter of 2020, 147 hedge funds out of 887 in the Insider Monkey database held stakes in PayPal, down from 150 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $15.9 billion, up from $15.7 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Fundsmith held the most shares – 12.3 million – worth more than $2.8 billion. Fisher Asset Management was 2nd with 10.6 million shares worth almost $2.5 billion.
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