5 Best Tech Stocks To Buy Now According To Billionaire Laffont

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Below are the 5 best tech stocks to buy now according to billionaire Laffont. For Phillipe Laffont’s portfolio adjustments and investment strategy please see 10 Best Tech Stocks To Buy Now According To Billionaire Laffont.

5. Zoom Video Communications, Inc. (NASDAQ: ZM)

The pandemic darling Zoom Video Communications, Inc. (NASDAQ: ZM) has been a member of Phillipe Laffont’s portfolio since the second quarter of 2019. Shares of Zoom Video grew 112% in the last twelve months. Coatue Management held 2.5 million shares of the video calling company at the end of the fourth quarter.

Baron Opportunity Fund, which returned 23.02% (institutional shares) in Q4, highlighted a few stocks including Zoom Video in the fourth quarter investor letter. Here’s what Baron Opportunity Fund stated:

“Zoom Video Communications, Inc. is a cloud-based software company providing a video-first platform for communication. Shares of Zoom declined during the fourth quarter on profit taking following the strong run in the stock because of accelerated pandemic-driven Zoom adoption, revenue growth, and free cash flow generation. We retain conviction as Zoom remains a leading player in disrupting the $100 billion unified communications market with its scalable, globally distributed, cloud-based, video-first offering, while its well-known brand (Zoom is now a verb!) should enable it to grow profitably as it takes market share.”

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