5 Most Popular Stocks on Robinhood in 2024

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1. Microsoft Corp (NASDAQ:MSFT)

Number of Hedge Fund Investors: 302

Microsoft Corp (NASDAQ:MSFT) is gaining attention of retail investors on Robinhood, and the stock is also the most popular one among the elite hedge funds tracked by Insider Monkey. AI remains the biggest growth catalyst for Microsoft Corp (NASDAQ:MSFT) shares. Recently, UBS published a list of its highest-conviction AI stocks. Microsoft Corp (NASDAQ:MSFT) was one of them. UBS said these stocks are positioned to capture the AI-related opportunities over the next six to 24 months.

Diamond Hill Long-Short Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:

“Other top Q4 contributors included Meta and Microsoft Corporation (NASDAQ:MSFT). Social media platform Meta’s digital ad revenues increased during the quarter, while it continued cutting costs — a combination which generated better-than-expected revenues and profits. Shares of software and information technology services provider Microsoft rose as its Azure cloud business continues growing and the company continues capitalizing on its attractive recurring revenue-based model to drive growth.”

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