In this article, we will list the 5 Best Stocks to Buy Now for Long Term Growth. Please visit 10 Best Stocks to Buy Now for Long Term Growth if you would like to see the extended list and the methodology behind it.
5. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 123
Tesla, Inc. (NASDAQ:TSLA) is one of the best stocks to buy now for long term growth. On May 29, Reuters reported the announcement by Estonia’s transport authority delivered on Friday that it had cleared Tesla, Inc.’s (NASDAQ:TSLA) FSD driver-assistance system for use on its roads. The clearance came after recognising a type approval first granted in the Netherlands. Tesla FSD is a level 2 driver assistance system, which translates to the driver remaining fully responsible for safe driving at times. The authority said that the driver should be ready to take over immediately, adding that the system had been tested on roads in Europe for a year and a half, after which it attained approval in the Netherlands, which has now been accepted by Estonia. Reuters further reported that Tesla, Inc. (NASDAQ:TSLA) wrote on X: “FSD Supervised now approved in Estonia. Rollout will begin soon”.
The transport authority also stated that the operation of self-driving and remotely operated vehicles in Estonia has been taking place since 2017, which makes allowing Tesla, Inc.’s (NASDAQ:TSLA) FSD onto its roads a logical next step. Reuters added that in addition to the Netherlands, Tesla, Inc.’s (NASDAQ:TSLA) driver assistance system has also been approved by Lithuania.
Tesla, Inc. (NASDAQ:TSLA) designs, manufactures, and sells high-performance electric vehicles and energy generation and storage systems. It operates through two segments: energy generation and storage, and automotive. However, the company isn’t merely an automotive manufacturer; investors regard it as a technology company due to its other projects, most of which feature AI.
4. Eli Lilly and Company (NYSE:LLY)
Number of Hedge Fund Holders: 132
Eli Lilly and Company (NYSE:LLY) is one of the best stocks to buy now for long term growth. Eli Lilly and Company (NYSE:LLY) announced on May 28 that its full obesity medicine portfolio would now be covered by all three of the largest pharmacy benefit managers in the nation. This considerably expands the number of Americans who can use their existing insurance to access FDA-approved options.
Management reported that coverage from CVS Caremark Commercial Template would begin from June 1 for Foundayo, and coverage would continue uninterrupted for current Zepbound patients, with access broadening across template plans by October 1. In addition, eligible patients with commercial coverage can access both medicines for as little as $25 a month. Eli Lilly and Company (NYSE:LLY) also stated that Medicare Part D beneficiaries may also be eligible to pay $50 per month for their obesity medicines beginning July 1 through the Medicare GLP-1 Bridge program.
For reference, Reuters reported on April 24 that according to analysts citing IQVIA data, Eli Lilly and Company’s (NYSE:LLY) Foundayo was prescribed 3,707 times in the United States in the second week following its launch earlier in the month. The pill had 1,390 prescriptions in its first week of launch.
Eli Lilly and Company (NYSE:LLY) develops, manufactures, discovers, and sells pharmaceutical products. These products span oncology, diabetes, immunology, neuroscience, and other therapies.
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 262
Meta Platforms, Inc. (NASDAQ:META) is one of the best stocks to buy now for long term growth. Reuters reported on May 29 that according to its internal documentation, Meta Platforms, Inc.’s (NASDAQ:META) plans to collect detailed records of computer usage by U.S. employees to train its AI models are more extensive than described initially, and are set to capture non-U.S. data in the process. It further reported that rights groups told Reuters that the documents introduce “fresh complications” for the project, and that may bring Meta Platforms, Inc. (NASDAQ:META) into a new European privacy fight.
In a separate development, Reuters reported on May 12 that Meta Platforms, Inc. (NASDAQ:META) lost its fight against an Italian regulatory order that called for it to compensate publishers for the use of their news article snippets, with Europe’s top court deciding in favor of the Italian telecoms watchdog. Reuters further stated that the case highlights the “ongoing copyright battle” between creators and publishers and tech companies regarding the use of their work or newspaper articles for the purpose of AI training. This has resulted in litigation against companies for infringement, including OpenAI, Anthropic, and Meta.
Meta Platforms, Inc. (NASDAQ:META) builds technological products that allow people to share, connect, grow businesses, and find communities. These products help people connect through personal computers, mobile devices, virtual reality (VR), mixed reality (MR) headsets, and wearables.
2. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 265
Alphabet Inc. (NASDAQ:GOOG) is one of the best stocks to buy now for long term growth. Truist lifted the price target on Alphabet Inc. (NASDAQ:GOOG) to $430 from $415 on May 29, maintaining a Buy rating on the shares and telling investors that by looking at recent deals and the backlog, consensus revenue estimates for Google Cloud are “below what they should be”. The firm stated that it believes revenue growth should accelerate throughout 2026 from 63% in fiscal Q1 to the mid-80% area by year-end. However, it also noted that consensus is projecting a deceleration to a percentage in the 50s.
In a separate development, Alphabet Inc. (NASDAQ:GOOG) announced on May 20 a partnership between Google Cloud and Thales, a global leader in high technologies, aimed at establishing a new sovereign cloud solution in Germany. Management stated that the agreement marks a notable step in meeting the German market’s demand for sovereign solutions that protect sensitive data from extraterritorial laws. It further reported that the solution will “live on dedicated infrastructure”, which will be operated and managed by a new German entity fully owned and controlled by Thales.
Alphabet Inc. (NASDAQ:GOOG) is a holding company with segments including Google Services, Google Cloud, and Other Bets. The Google Services segment operates various services and products, including Android, Google Maps, Google Play, Chrome, Search, and YouTube.
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 275
NVIDIA Corporation (NASDAQ:NVDA) is one of the best stocks to buy now for long term growth. Reuters reported on May 26 that, according to a report by Bloomberg News citing people familiar with the matter, Taiwan prosecutors suspect that three individuals managed to smuggle at least one shipment of NVIDIA Corporation (NASDAQ:NVDA) chips to China before first exporting them to Japan. However, the report could not be immediately verified by Reuters.
For reference, NVIDIA Corporation (NASDAQ:NVDA) released financial results for fiscal Q1 2027 on May 20, reporting record revenue of $81.6 billion for the quarter, up 20% from the previous quarter and up 85% from a year ago. GAAP and non-GAAP gross margins were 74.9% and 75.0% for the quarter, respectively, while GAAP and non-GAAP earnings per diluted share were $2.39 and $1.87, respectively.
The company’s Board of Directors also approved an additional $80.0 billion to its share repurchase authorization on May 18, 2026, without expiration. NVIDIA Corporation (NASDAQ:NVDA) is also increasing its quarterly cash dividend from $0.01 per share to $0.25 per share of common stock, payable on June 26, 2026, to all shareholders of record on June 4, 2026.
NVIDIA Corporation (NASDAQ:NVDA) designs and manufactures computer graphics processors, chipsets, and other multimedia software. It operates in the Compute & Networking and Graphics Processing Unit (GPU) segments.
While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
