5 Technology Stocks to Buy Now According to Stanley Druckenmiller

2. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 158 

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology firm. Latest data shows that Duquesne Capital owned 94,414 shares of the firm at the end of the fourth quarter of 2021 worth more than $273 million, representing 9.91% of the portfolio. The fund slashed its position in the company by 20% between October and December compared to third quarter filings. The company has been a constant feature in the Druckenmiller portfolio, with minor exceptions, since late 2015. 

On April 13, Alphabet Inc. (NASDAQ:GOOG) announced that it would be investing at least $9.5 billion across offices and data centers in the United States in 2022, up from $7 billion in 2021. The investment will create 12,000 full-time jobs this year, per the firm. 

Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 2.9 million shares worth more than $8.5 billion. 

In its Q4 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“In contrast, we made a different kind of mistake about a decade ago. Google, now Alphabet Inc. (NASDAQ:GOOG), performed very well for us while we owned it. The company kept outperforming our assumptions and we kept lowering them to be conservative. “Trees do not grow to the sky.” The stock kept going up and our value grew but did not keep pace with the stock. It hit our estimate of fair value and we sold it with a nice gain, patting ourselves on the back. We kept following the company and what they actually did over the next several years was roughly double the assumptions we used to value it. Therefore, our value was too conservative, and we sold it too cheaply, missing many years of compounding. Fortunately, we experienced some volatility several years ago that allowed us to purchase Alphabet Inc. (NASDAQ:GOOG) (Google) again with a margin of safety.”