In this article, we discuss the 5 best tech stocks to buy according to billionaire Ken Griffin. If you want to read our detailed analysis of Ken Griffin’s history and views on the latest market situation, go directly to 10 Best Tech Stocks to Buy According to Billionaire Ken Griffin.
5. Alphabet Inc. (NASDAQ:GOOG)
Citadel Investment Group’s Stake Value: $371.33 million
Percentage Of Citadel Investment Group’s 13F Portfolio: 0.07%
Number of Hedge Fund Holders: 160
Up next is Alphabet Inc. (NASDAQ:GOOG), which represents 0.07% of Ken Griffin’s Q1 portfolio with nearly 134,000 shares priced at $371.3 million. In total, 160 hedge funds from Insider Monkey’s Q1 database were long on GOOG shares, in contrast to 158 hedge funds a quarter ago.
On June 1, Morgan Stanley analyst Brian Nowak reiterated an ‘Overweight’ rating on Alphabet Inc. (NASDAQ:GOOG) shares, and lowered the price target to $3,000 from $3,270 owing to a more conservative online advertising and e-commerce view amid “rising macro and micro uncertainty.” Morgan Stanley now pegs the probability of recession at 35%, as opposed to 5% at the start of the year. As of June 27, shares of Alphabet Inc. (NASDAQ:GOOG) are down 18.29% in the year to date.
For the quarter ending March, Alphabet Inc. (NASDAQ:GOOG) posted EPS which fell below estimates by $0.94. However, quarterly revenue of $68 billion was above analysts’ predictions by $121.3 million and showed year-on-year growth of 22.95%.
Here is what Farrer Wealth Advisors had to say about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2022 investor letter:
“Alphabet: We won’t waste much time trying to explain to our clients why Alphabet is such a phenomenal business, we believe that is quite self-evident. The better explanation is why we never bought Alphabet before. The reason was a personal bias we held based on three beliefs (which we now believe to be incorrect)
Growth in YouTube would stall as the increased ad-load would turn-off viewers (the double ad-load at the beginning of videos for example). Consumers will focus on discovery rather than search to purchase new items. For example – using Instagram/TikTok to decide what new clothes to buy instead of ‘googling’ for clothes. Other Bets: In general, we felt that capital spent on “Other Bets” has been a bit wasteful with the segment earning just around $3.1bn in revenue versus nearly $21bn in operating losses over the last five years…” (Click here to see the full text)