5 Best Social Media Stocks to Buy Now

2. Alphabet, Inc. (NASDAQ:GOOG)

No of HFs: 162
Total Value of HF Holdings: $14.7 Billion

In 2006, Google purchased YouTube for $1.65 billion and since then has been receiving many social media hits. According to investing news, they are the second most visited site in the world with a 2 billion user count worldwide. Alphabet was mentioned in the 10 Best Stocks to Buy and Hold For 5 Years According to ARK’s Cathie Wood.

In an article, Baron Opportunity Fund mentioned the stock.

“Considering solid Fund inflows, we added to long-term holding Alphabet Inc. to maintain its weighting in the portfolio. Alphabet is the parent company of Google, the world’s largest search and online advertising company. We increased our position in Alphabet this quarter as a protracted COVID-19-related recovery in travel and brand advertising presented an attractive buying opportunity. We are encouraged by improving trends in both search and YouTube, driven by durable tailwinds to e-commerce and local advertising, as well as the continued shift of video advertising dollars away from linear television as consumers increasingly cut the cable TV cord. We believe Google is becoming slightly more disciplined in capital allocation than it has been historically. Lastly, Google Cloud, which this quarter achieved a $12 billion revenue run rate under the leadership of Thomas Kurian, is having increasing success competing with larger vendors, due to its strengths in security, open-source, and data analytics.”