5 Best Virtual Reality Stocks to Invest In

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Funds Holders: 152

Alphabet Inc. (NASDAQ:GOOG) stands as a prominent technology behemoth within the Big 5. Anchored by its cornerstone, Google, the company’s search engine processes billions of queries daily. Its portfolio extends to various video streaming and productivity platforms, most notably YouTube. Moreover, Alphabet is involved in the retail of electronic gadgets, including smartphones, slim laptops, and speakers.

Alphabet Inc. (NASDAQ:GOOG)’s initial endeavor into the realm of wearable VR/AR technology was embodied by Google Glass, introduced in 2013. While the reception for the Glass was relatively subdued, reports indicate that the company is currently working on a new headset, with aspirations for a potential release around 2024. Over recent years, Google has also channeled substantial investments into its visual search engine Lens and has introduced AR functionalities to enhance Google Maps.

On July 25, the company announced a Q2 GAAP EPS of $1.44, exceeding Street consensus by $0.10. The revenue increased 7% year-over-year to $74.6 billion, surpassing market expectations by $1.84 billion.

After digging through 910 hedge funds for their second quarter of 2023 shareholdings, Insider Monkey found out that 152 had bought Alphabet Inc. (NASDAQ:GOOG)’s shares. Out of these, the firm’s largest investor is Natixis Global Asset Management Harris Associates with a $3.21 billion stake.

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