5 Cash-Rich Tech Stocks to Buy Now

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In this article, we will look at the 5 cash-rich tech stocks to buy now. If you want to explore similar technology companies that have enough cash on hand to weather an economic downturn, you can also read 10 Cash-Rich Tech Stocks to Buy Now.

5. JD.com, Inc. (NASDAQ:JD)

Free Cash Flow: $28.82 Billion

Number of Hedge Fund Holders: 62

On August 23, JD.com, Inc. (NASDAQ:JD) announced earnings for the fiscal second quarter of 2022. The company reported earnings per share of $0.59 and outperformed estimates by $0.19. The company generated a revenue of $39.15 billion and beat Wall Street expectations by $571.5 million.

On August 24, Benchmark analyst Fawne Jiang raised his price target on JD.com, Inc. (NASDAQ:JD) to $109 from $106 and reiterated a Buy rating on the shares. Jiang sees JD.com, Inc. (NASDAQ:JD) driving margin expansion better than peers.

As of September 7, JD.com, Inc. (NASDAQ:JD) has free cash flows of $28.82 billion and is therefore ranked among the top 5 cash-rich tech stocks to buy now.

At the close of Q2 2022, 62 hedge funds held stakes in JD.com, Inc. (NASDAQ:JD) worth $5.48 billion. This is compared to 59 positions in Q1 2022, with stakes worth $5.40 billion. The hedge fund sentiment for the stock is positive.

As of June 30, Tiger Global Management LLC owns more than 30.5 million shares of JD.com, Inc. (NASDAQ:JD) and is the largest shareholder in the company.

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