5 Best Tech Stocks To Buy Now According To Billionaire Laffont

3. Tesla, Inc. (NASDAQ: TSLA)

The world’s largest electric vehicle manufacturer Tesla Motors Inc (NASDAQ: TSLA) is the third biggest stock holding of Coatue Management. Despite a 30% stake sale in the fourth quarter, tiger cub’s hedge fund held 2.1 million shares of Tesla at the end of the fourth quarter. Shares of Tesla are struggling in 2021 following a massive growth in 2020.

In the fourth quarter investor letter, Baron Opportunity Fund presented a bullish outlook for Tesla. Here’s what Baron Opportunity Fund stated:

“Tesla, Inc. designs, manufactures and sells fully electric vehicles, solar products, and energy storage solutions. The stock increased on strong financial results, including profitability that exceeded market forecasts and strong growth across different geographies and vehicle programs. Indeed, in the third quarter, Tesla delivered almost 140,000 total vehicles – with strong unit level economics of 27.7% GAAP automotive gross profit margins – and another quarter of GAAP profitability and strong free cash flow (almost $1.4 billion). Recently, Tesla announced a record of over 180,000 total vehicle deliveries for the fourth quarter, effectively hitting its goal of 500,000 deliveries for the calendar year, a projection given before the COVID pandemic. In addition, we believe newly released full selfdriving functionality should yield further improvements in unit economics and open exciting new growth opportunities. Lastly, Tesla joined the S&P 500 Index, a meaningful milestone that significantly expands the potential shareholder base.”