5 Best Technology Stocks to Buy According to Billionaire Dan Loeb

3. Intel Corporation (NASDAQ:INTC)

Third Point LLC’s Stake Value: $479,520,000

Percentage of Third Point LLC’s 13F Portfolio: 2.61%

Intel Corporation (NASDAQ:INTC) is another legacy player in the technology sector and the 10th biggest holding in Third Point LLC’s portfolio.

To counter the impact of stagnation and investor activism from Third Point, the company brought back Pat Gelsinger as its CEO in January 2021, after he left Intel Corporation (NASDAQ:INTC) in 2009 to become the President and COO at EMC. In 2012, he took over as the CEO of VMWare, Inc. (NYSE:VMW). Following his appointment, Dan Loeb revealed that he is “excited” to be a long-term investor in Intel Corporation (NASDAQ:INTC) and thinks that the company has “unmatched” resources in the semiconductor industry. He thinks that Gelsinger is the right person to motivate thousands of employees at Intel Corporation (NASDAQ:INTC) and take the company into the future.

Of the 867 elite funds being tracked by Insider Monkey, 66 reported owning a stake worth $6.47 billion in Intel Corporation (NASDAQ:INTC) at the end of Q3 2021. Dan Loeb’s Third Point owns 9 million shares in the company, worth nearly $479.5 million.