In this piece, we will take a look at the five most profitable tech stocks to invest in. If you want to learn more about the latest news in the technology industry, then you can check out the 16 Most Profitable Tech Stocks To Invest In.
5. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Q4 2023 Hedge Fund Shareholders: 293
Latest Trailing 12 Month Net Income: $30.4 billion
Amazon.com, Inc. (NASDAQ:AMZN) is one of the biggest eCommerce retailers and enterprise computing companies in the world. Due to the sheer amount of cargo that it handles, the firm has to continuously keep on innovating. The latest news on this front reveals that Amazon.com, Inc. (NASDAQ:AMZN) is now revamping its air cargo routing.
Insider Monkey’s Q4 2023 database covering 933 hedge funds revealed that 293 were Amazon.com, Inc. (NASDAQ:AMZN)’s shareholders. Ken Fisher’s Fisher Asset Management was the biggest hedge fund investor due to its $6.3 billion investment.
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Follow Amazon Com Inc (NASDAQ:AMZN)
4. Meta Platforms, Inc. (NASDAQ:META)
Number of Q4 2023 Hedge Fund Shareholders: 242
Latest Trailing 12 Month Net Income: $47.4 billion
Meta Platforms, Inc. (NASDAQ:META) is the holding company for Facebook, Instagram, and WhatsApp. With the season of legal action against big tech firms continuing in 2024, the firm was dealt with a setback in March 2023 when a court ruled that it must face a lawsuit from advertisers that allege Meta Platforms, Inc. (NASDAQ:META) shared incorrect user reach data.
By the end of last year’s fourth quarter, 242 out of the 933 hedge funds covered by Insider Monkey’s research had bought and owned the firm’s shares. The largest Meta Platforms, Inc. (NASDAQ:META) stakeholder among these is Rajiv Jain’s GQG Partners as it owns a $3.9 billion stake.
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Follow Meta Platforms Inc. (NASDAQ:META)
3. Alphabet Inc. (NASDAQ:GOOGL)
Number of Q4 2023 Hedge Fund Shareholders: 214
Latest Trailing 12 Month Net Income: $73.7 billion
Alphabet Inc. (NASDAQ:GOOGL) is the American technology behemoth headquartered in Mountain View, California. March 2024 is turning out to be a crisis ridden month for the firm as it is set to battle European legislators in a fresh digital markets probe, faces accusations in Malaysia of improper financial practices, and sees protestors continue to set its self driving cars on fire in California.
For their December quarter of 2023 shareholdings, 214 out of the 933 hedge funds part of Insider Monkey’s database had bought and owned Alphabet Inc. (NASDAQ:GOOGL)’s shares. Ken Fisher’s Fisher Asset Management was the largest shareholder due to its $6.3 billion investment.
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Follow Alphabet Inc. (NASDAQ:GOOG)
2. Microsoft Corporation (NASDAQ:MSFT)
Number of Q4 2023 Hedge Fund Shareholders: 242
Latest Trailing 12 Month Net Income: $82.5 billion
Microsoft Corporation (NASDAQ:MSFT) is the biggest personal computing software company in the world and a key player in the enterprise computing industry as well. The firm is moving full steam ahead with diversifying its artificial intelligence portfolio in March 2024, with a latest deal seeing Microsoft Corporation (NASDAQ:MSFT) pay a cool $650 million to an AI startup for its software.
As of fourth quarter of 2023 end, 302 hedge funds out of the 933 covered by Insider Monkey’s research had held a stake in the firm. Microsoft Corporation (NASDAQ:MSFT)’s biggest hedge fund investor is Michael Larson’s Bill & Melinda Gates Foundation Trust as it owns $14.3 billion worth of shares.
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Follow Microsoft Corp (NASDAQ:MSFT)
1. Apple Inc. (NASDAQ:AAPL)
Number of Q4 2023 Hedge Fund Shareholders: 242
Latest Trailing 12 Month Net Income: $100.9 billion
Apple Inc. (NASDAQ:AAPL) is the biggest technology company in the world in terms of profits. However, its bread and butter iPhone is now at the center of a fresh lawsuit by the Justice Department, which accuses Apple Inc. (NASDAQ:AAPL) of shirking away from competition by locking its system.
During Q4 2023, 131 out of the 933 hedge funds part of Insider Monkey’s database had invested in Apple Inc. (NASDAQ:AAPL). Warren Buffett’s Berkshire Hathaway was the largest shareholder due to its $174 billion stake.
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Follow Apple Inc. (NASDAQ:AAPL)
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Disclosure: None. You can also take a look at 11 Most Undervalued Cybersecurity Stocks To Buy According To Analysts and 20 Largest Companies in the World by Market Cap in 2024.
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