Michael Burry’s 2024 Portfolio: 5 New Stock Picks

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This article presents an overview of Michael Burry’s 2024 Portfolio: 5 New Stock Picks. For a detailed overview of such stocks, read our article, Michael Burry’s 2024 Portfolio: 12 New Stock Picks.

5. Alphabet Inc Class C (NASDAQ:GOOG)

Michael Burry’s Stake: $4,889,150

Michael Burry’s Scion Asset Management bought a $4.9 million stake in Alphabet Inc Class C (NASDAQ:GOOG) during the fourth quarter of 2023. Burry bought Alphabet Inc Class C (NASDAQ:GOOG) despite concerns regarding Alphabet Inc Class C’s (NASDAQ:GOOG) search business, as a latest Gartner report predicted that by 2026 search volumes would drop by 25% as people are beginning to use AI chatbots to search for answers to their queries.

Insider Monkey’s database of 933 hedge funds shows that 214 hedge funds had stakes in Alphabet Inc Class C (NASDAQ:GOOG).

The FPA Crescent Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its fourth quarter 2023 investor letter:

Alphabet Inc. (NASDAQ:GOOG) continued going from strength to strength during 2023 despite concerns that competition may infringe on the company’s dominant position in Search. Thus far, Alphabet has continued to hold its own, and we look forward to seeing how the company incorporates further AI developments across the Alphabet ecosystem. Lastly, we are hopeful that the impending arrival of a new CFO will bring a renewed focus on efficiency – an area where we believe Alphabet has ample room for improvement.”

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