5 Best Tech Stocks For Long Term Investment

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 13 Best Tech Stocks For Long Term Investment.

5. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 112

Adobe Inc. (NASDAQ:ADBE) is a versatile software company offering a diverse range of products and solutions that empower individuals, teams, and enterprises to create, publish, and promote content. Renowned as a preferred choice for content creators, students, professionals, and consumers, Adobe Inc. (NASDAQ:ADBE) also operates a Digital Experience segment, facilitating brands and businesses in the creation, management, implementation, and monetization of customer experiences.

On October 27, Oppenheimer analyst Brian Schwartz upgraded Adobe Inc. (NASDAQ:ADBE) from Perform to Outperform, accompanied by a revised price target of $660.00, indicating a favorable outlook on Adobe Inc.’s performance and growth potential.

Among the 910 hedge funds included in Insider Monkey’s third-quarter 2023 database, 112 had invested in the firm. 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.”