Goldman Sachs Tech Stocks: Top 5 Stock Picks

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In this article, we discuss the top 5 tech stock picks of Goldman Sachs. If you want to read our detailed discussion about the tech industry, head directly to Goldman Sachs Tech Stocks: Top 12 Stock Picks.

5. Alphabet Inc. (NASDAQ:GOOG)

Goldman Sachs’ Stake Value: $4,231,186,797

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) is one of the top Goldman Sachs tech stocks. On July 25, the company announced a Q2 GAAP EPS of $1.44, exceeding Street consensus by $0.10. The revenue increased 7% year-over-year to $74.6 billion, surpassing market expectations by $1.84 billion. As of Q1 2023, Goldman Sachs held a significant position in Alphabet Inc. (NASDAQ:GOOG), comprising 40.8 million shares worth $4.23 billion.

According to Insider Monkey’s first quarter database, 155 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOG). In comparison, 152 funds were invested in the company during the preceding quarter. Harris Associates held the largest stake in the company, with approximately 37 million shares valued at $3.83 billion.  

Weitz Partners III Opportunity Fund said this about Alphabet Inc. (NASDAQ:GOOG) in its second quarter 2023 investor letter:

“The year-to-date top contributors Microsoft Corp. (MSFT) and Google parent Alphabet Inc. (NASDAQ:GOOG) (also a top quarterly contributor) have generated an enormous volume of AI-centric headlines. Both are at the vanguard of introducing AI-powered technologies into consumer-facing products, most notably their respective search engine. We trimmed several of the year’s winners on strength, including Meta, Microsoft, Alphabet, CoStar Group, Inc. (CSGP), and CarMax.”

Follow Alphabet Inc. (NASDAQ:GOOG)

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