5 Tech Stocks to Buy According to Billionaire Philippe Laffont

In this article, we will take a look at the 5 tech stocks to buy according to billionaire Philippe Laffont. If you want to read our comprehensive analysis of Laffont’s history, investment philosophy, and hedge fund performance, go directly to the 10 Tech Stocks to Buy According to Billionaire Philippe Laffont.

5. Facebook, Inc. (NASDAQ:FB)

Coatue Management’s Stake Value: $994 million
Percentage of Coatue Management’s 13F Portfolio: 3.89%
Number of Hedge Fund Holders: 266

Facebook, Inc. (NASDAQ:FB) is a multinational social networking services company based in Menlo Park, California. The tech titan has a market capitalization of $945.47 billion and is ranked fifth on the list of the 10 tech stocks to buy according to billionaire Philippe Laffont.

Philippe Laffont’s Coatue Management currently holds over 2.85 million shares of Facebook, Inc. (NASDAQ:FB). These shares amount to $994 million and accounts for 3.89% of the fund’s portfolio value. At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc. (NASDAQ:FB), compared to 257 in the previous quarter’s worth $40 billion.

According to its earnings report for the second quarter of 2021, Facebook, Inc. (NASDAQ:FB) had an EPS of $3.61, beating the estimated EPS by $0.58. Facebook, Inc. (NASDAQ:FB) also reported revenues amounting to $29.08 billion, surpassing market predictions by $1.19 billion.

On September 30, RBC Capital analyst Brad Erickson initiated coverage of Facebook, Inc. (NASDAQ:FB) with an Outperform rating alongside a $425 price target on the company’s shares.