Top 5 Technology Stocks to Buy in 2023 According to Ray Dalio

In this article, we discuss the top 5 Technology stocks to buy in 2023 according to Ray Dalio. If you want to read our detailed analysis of Dalio’s investment philosophy and portfolio construction, go directly to the Top 10 Technology Stocks to Buy in 2023 According to Ray Dalio.

5. Block, Inc. (NYSE:SQ)

Value of Bridgewater Associates’ 13F Position: $54.74 million
Percentage of Bridgewater Associates’ 13F Portfolio: 0.29%
Number of Hedge Fund Shareholders: 70

Block, Inc. (NYSE:SQ) provides credit card payment processing solutions. Its commerce ecosystem includes software and hardware for point-of-sale operations, assisting merchants with payment and point-of-sale solutions.

Bridgewater Associates elevated its position in Block, Inc. (NYSE:SQ) by 80% in Q4 2022, holding 871,118 shares worth over $54.74 million. The stock accounts for 0.29% of the fund’s total 13F portfolio. Block, Inc. (NYSE:SQ) has featured on Bridgewater Associates’ portfolio since the first quarter of 2022.

Baird expected Block, Inc. (NYSE:SQ) to have a slow Q1 but improve later in the year. They predicted slightly higher earnings per share in Q1, but March and April results would be more important to investors. Baird was positive about CashApp’s growth but concerned about a possible decline in the Seller business. On April 13, Baird maintained an ‘Outperform’ rating and a price target of $92 for Square shares.

As of the fourth quarter of 2022, 70 hedge funds in Insider Monkey’s database held stakes in Block, Inc. (NYSE:SQ). Catherine D. Wood’s ARK Investment Management is the most notable shareholder in Block, Inc. (NYSE:SQ), with 9 million shares valued at $565.77 million.