5 Tech Stocks to Buy Now According to Billionaire Steve Cohen

4. Meta Platforms, Inc. (NASDAQ:META)

Stake Value in Point72 Asset Management’s 13F Portfolio: $164.61 million

Percentage of Point72 Asset Management’s 13F Portfolio: 0.69%

Number of Hedge Funds: 184

Based in California, USA Meta Platforms, Inc. (NASDAQ:META) is a tech conglomerate which focuses on developing goods and services that enable connections and communication between individuals. The company is ranked 4 in our list of our list of 10 tech stocks to buy now according to billionaire Steve Cohen. As of August 2022, Steve Cohen’s Point72 Asset Management had stakes worth $164.61 million in Meta Platforms, Inc. (NASDAQ:META).

Meta Platforms, Inc. (NASDAQ:META) recently acquired German firm Lofelt, whose technology aims to imitate the illusion of touch in virtual reality. In Q2 2022, Meta Platforms, Inc. (NASDAQ:META) also reported revenue of $28.82 billion and an adjusted EPS of $246.

184 hedge funds tracked by Insider Monkey reported having bullish bets on Meta Platforms, Inc. (NASDAQ:META) as of the end of the second quarter of 2022, with an aggregate stake value of $18.19 billion. Citadel Investment Group, with a position worth $3.35 billion, was one of the largest hedge fund holders of Meta Platforms, Inc. (NASDAQ:META).