12 Best Big Tech Stocks to Buy Now – Yahoo Finance
In this article, we will be taking a look at the 12 best big tech stocks to buy now. To skip our analysis of the recent technology trends, and market activity, you can go directly to see the 5 Best Large Tech Shares to Purchase Now .
Technology has been at the forefront of advancement and innovation in the particular recent past and is expected to be the primary catalyst in the future as well. The advancements in technologies have not only improved the quality of life for individuals but have also resulted in improved productivity and efficiency across almost all aspects of life.
According to a report recently published by McKinsey & Company, the latest trends in the technology revolve around 14 major technologies, with clean energy, mobility, plus connectivity leading the trends in terms of the investments made during 2021. Clean energy technologies focused on the particular whole power value chain, from power generation to storage and distribution, were at the forefront along with $257 billion investment last year. Other major styles include applied AI, Cloud, and edge computing, Web3, and immersive reality systems, among others.
The companies picked in this list are at the particular forefront of their market segments plus industries and hold significant competitive advantage over their peers based on strong technological capabilities. The businesses have strong fundamentals and have exhibited high growth in the past with the potential to make breakthroughs within the future too.
Despite the growing investments and the increasing importance of technology in our lives, the particular technology sector and the stocks associated with the companies that are part of this sector have not fared well inside the recent past. The Nasdaq-100 index, heavily weighted with technologies stocks, was down year-to-date by nearly 35%, as of October 11, 2022.
Global markets have been going through a rough patch with fears of the recession due to inflation plus aggressive monetary policies implemented by central banks. On September 21, the US central bank raised interest rates by three-quarters of a percentage point for the third consecutive time and signaled further increases in the particular future.
Given the decline in the market, it could be a good idea for investors to have a well diversified portfolio of leading businesses across many different sectors and not just technology alone. In the particular technology field, however , here are some leading companies.
We used multiple screening methods to pick the twelve best big tech stocks to buy now. We picked the top 40 stocks with market capitalizations of more than $50 billion, solid fundamentals and average analyst price targets representing an upside of more than 30% based on the current marketplace price. All of us ranked these 40 businesses in line with the number of top hedge funds holders who held shares in the particular same stock at the end of 2022.
12 Best Huge Tech Stocks and shares to Buy Now
twelve. QUALCOMM, Incorporated (NASDAQ: QCOM )
Market Capitalization as of Oct 10: $140. 7 billion dollars
Current Share Price as of October 10: $114. 01
Number associated with Hedge Fund Holders: 71
San Diego, California-based QUALCOMM, Integrated (NASDAQ: QCOM) is a leading wireless technology innovator plus the driving force behind the development, launch and expansion of 5G technologies. Its portfolio includes products for processors, modems, platforms, RF systems, and connectivity, among other people.
QUALCOMM, Included (NASDAQ: QCOM) is among a few of the worst performing stocks inside the US market along with shares down by 33. 88% since the beginning of the year, since October ten.
On Sept 27, JPMorgan analyst Samik Chatterjee reiterated his belief in QUALCOMM, Incorporated (NASDAQ: QCOM) plus maintained a good ‘Overweight’ rating and the price target of $185.
As of Q2 2022, 71 from the 895 hedge money tracked by Insider Monkey were long QUALCOMM, Incorporated (NASDAQ: QCOM), holding stocks worth $2. 8 billion. Its largest hedge fund shareholder is Ken Griffin’s Citadel Investment Group .
Like Apple Inc. (NASDAQ: AAPL), Uber Technologies, Inc. (NYSE: UBER), and Microsoft Corporation (NASDAQ: MSFT), QUALCOMM, Incorporated (NASDAQ: QCOM) is a stock many hedge funds own.
11. Taiwan Semiconductor Manufacturing Organization Limited (NYSE: TSM )
Market Capitalization as associated with October 10: $370. 6 billion
Current Share Price by October 10: $67. 25
Number of Hedge Fund Holders: 72
Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM ), based in Hsinchu, Taiwan, is a leading semiconductor foundry operator. It serves more than 500 customers and manufactures over 12, 300 products with regard to various applications including smartphones, high performance computing, the Internet of Things (IoT), automotive, plus digital consumer electronics.
Within October, Taiwan Semiconductor Production Company Limited (NYSE: TSM) announced its net revenue for the particular month associated with September. Its net income increased simply by 36% y-o-y to NT$208. 3 billion dollars for that month.
Since Oct 10, Taiwan Semiconductor Manufacturing Company Restricted (NYSE: TSM) shares have lost 42% of their own value given that the start of the year and currently trade at the forward P/E ratio of 13. 17. Despite the current bearish trend, analysts possess an average price focus on of $117. 78 regarding Taiwan Semiconductor Manufacturing Business Limited (NYSE: TSM) gives, which represents a potential upside associated with 75% based on the current share price.
Given Taiwan Semiconductor Manufacturing Firm Limited (NYSE: TSM) operates in Taiwan, the company is riskier than companies located in the particular United States if tensions between China as well as the United States increase.
As of Q2 2022, 72 associated with the 895 hedge money tracked by Insider Monkey owned shares of Taiwan Semiconductor Production Company Small (NYSE: TSM), valued in $9. 2 billion. The largest shareholder was Ken Fisher’s Fisher Asset Management with ownership of 26. 3 million shares valued at $2. 2 billion.
10. Intuit Inc. (NASDAQ: INTU )
Market Capitalization as of October ten: $115. 9 billion
Present Share Cost as of October 10: $381. 03
Number of Hedge Fund Cases: 75
Intuit Inc. (NASDAQ: INTU) is really a global financial technology platform allowing consumers and small businesses to manage their finances, get plus retain customers, save money, pay off debt and do their particular taxes with ease, among other solutions. Its systems include TurboTax, Credit Karma, QuickBooks, and Mailchimp plus serve more than 100 million customers.
In August, Intuit Incorporation. (NASDAQ: INTU) released the financial results for the quarter ended July 31, 2022. Its total revenue decreased simply by 6% y-o-y to $2. 4 billion dollars, while it reported a net loss of $56 million. It reported a normalized EPS of $1. 10 intended for the quarter, $0. 12 more than the expert consensus. The company also declared a quarterly cash dividend of $0. 68 per share.
On October 3, JPMorgan analyst Mark Murphy downgraded Intuit Inc. (NASDAQ: INTU) stocks to ‘Neutral’ from ‘Overweight’ with the $360 price target.
As of Q2 2022, 75 of the particular 895 hedge funds tracked by Insider Monkey held Intuit Inc. (NASDAQ: INTU) shares valued at a combined total associated with $5. 4 billion. Terry Smith’s Fundsmith LLP has been its biggest hedge account shareholder along with ownership of 2. four million gives valued from $914 mil.
9. NVIDIA Corporation (NASDAQ: NVDA )
Market Capitalization as associated with October 10: $326. nine billion
Current Share Price since Oct 10: $115. 23
Quantity of Hedge Fund Slots: 84
Founded in 1993, California-based -NVIDIA Corporation (NASDAQ: NVDA) is actually a leading technology company focused on the design and manufacturing of accelerated computing hardware and software products. The core businesses comprise of Gaming, Data Center, Professional Visualization, and Automotive, with Video gaming and Data Center making up for more than 80% of its revenues. Its GeForce GPU is utilized by a lot more than 200 million gamers and creators, making it the market leader with 80% market share in PC Gaming.
That kicks off in august, NVIDIA Corporation (NASDAQ: NVDA) released the monetary results to get the one fourth ended July 31, 2022. Its revenues increased by 3% y-o-y to $6. 7 billion, while its net income declined by 72% y-o-y in order to $656 million. The EPS for your quarter was recorded with $0. twenty six, beating the consensus simply by $0. 06.
Earlier within September, Citi analyst Atif Malik lowered the price target on Nvidia Corporation (NASDAQ: NVDA) shares to $210 from $248 while maintaining a ‘Buy’ ranking on the shares.
Even though -nvidia Corporation (NASDAQ: NVDA) shares were straight down 58. 94% year-to-date because of October 10, analysts have an average cost target of $196. seventy five.
NVIDIA Corporation (NASDAQ: NVDA) is subject to bullish sentiment from a large quantity of hedge funds while 84 in the 895 hedge funds kept its stocks as associated with Q2 2022, with the total hedge finance holdings appreciated at $3. 3 billion dollars. Its largest shareholder is Citadel Expense Group .
8. Advanced Micro Devices, Inc. (NASDAQ: AMD )
Market Capitalization by Oct 10: $109. 5 billion
Current Share Price since of October 10: $57. 35
Number of Hedge Account Holders: 87
Based in Santa Clara, California, Sophisticated Micro Products, Inc. (NASDAQ: AMD) is a leading semiconductor company using high-performance computing, graphics, and visualization technologies to provide computing options for cloud, edge, and end devices. On September 20, the particular semiconductor maker unveiled the latest Ryzen™ 7020 Series and Athlon™ 7020 Collection Processor lineup, promising high-end performance plus longer battery life for mobile and laptop devices.
In August, Advanced Micro Devices, Incorporation. (NASDAQ: AMD) released its financial outcomes for the quarter finished June 25, 2022. The revenues increased by 70% y-o-y to $6. six billion, while net gain dropped by 37% y-o-y in order to $447 mil. The normalized EPS was recorded on $1. 05 per discuss, beating the particular consensus by $0. 01.
As of October ten, Advanced Tiny Devices, Inc. (NASDAQ: AMD) shares have got lost 59. 39% of their value year-to-date. Despite the recent downturn, the gives have an average analyst price target associated with $107. 87.
On Sept 15, Mizuho analyst Vijay Rakesh reduced the cost focus on Superior Micro Gadgets, Inc. (NASDAQ: AMD) shares to $125 from $140 but maintained a ‘Buy’ rating on the stocks.
As of Q2 2022, 87 hedge funds monitored by Insider Monkey held shares associated with Advanced Mini Devices, Incorporation. (NASDAQ: AMD), worth $4. 8 billion dollars. Ken Fisher’s Fisher Asset Management will be its biggest hedge fund shareholder with ownership of 25. 1 million gives valued at $1. 9 billion.
7. Palo Alto Networks, Inc. (NYSE: PANW )
Marketplace Capitalization like of Oct 10: $52. 3 billion
Current Discuss Price as of October 10: $161. 95
Number associated with Hedge Finance Holders: 90
Santa Clara, California-based Palo Alto Networks, Inc. (NYSE: PANW) is usually a top global cybersecurity services provider. It acts thousands of customers globally across all sectors.
In August, Palo Alto Systems, Inc. (NYSE: PANW) launched financial results for the particular quarter ended July thirty-one, 2022. Its revenue improved by 27% y-o-y to $1. 6 billion, whilst it generated a net income associated with $3. 3 million, compared to the net lack of $119. a few million last year.
As of October ten, Palo Alto Networks, Incorporation. (NYSE: PANW) shares have shown substantial resistance despite the turbulent market conditions and also have lost 8. 45% of the value since the beginning associated with the year. The outlook for Palo Alto Networks, Inc. (NYSE: PANW) may not be so gloomy in the future seeing that analysts hold an regular price target of $218. 25.
Upon October six, SMBC Nikko analyst Carson Sippel initiated coverage of Palo Alto Networks, Inc. (NYSE: PANW) with a price target associated with $230 and an ‘Outperform’ rating pertaining to the shares. The expert believes that the company is usually “set in order to command an increasingly larger reveal of Security budgets going forward” plus views the company “as a formidable player in Impair Security and Security Ops”.
As of Q2 2022, 90 associated with the 895 hedge funds tracked simply by Insider Goof held stocks of Palo Alto Systems, Inc. (NYSE: PANW), worth $3. seven billion. Tobey maguire Griffin’s Citadel Investment Group was the largest shareholder.
6. Adobe Inc. (NASDAQ: ADBE )
Market Capitalization as of October 10: $138. 7 billion
Present Share Cost since October 10: $284. 02
Amount of Hedge Fund Owners: 92
Adobe Inc. (NASDAQ: ADBE) can be a leading digital media plus digital marketing solutions organization based in California. The software and cloud solutions are packaged into three cloud solutions: Adobe Creative Cloud – comprising Photoshop, Lightroom, Illustrator, Premier Pro, and others; Adobe Document Cloud – comprising solutions for creating, editing, sharing, scanning, and signing digital documents; and Flag Experience Impair – solutions for customer journey management, data analytics, content personalization, commerce, and marketing workflows.
In September, Adobe Incorporation. (NASDAQ: ADBE) released its financial results for the quarter ended September 2, 2022. Its total revenue increased by 13% y-o-y to $4. 4 billion, while net income declined by 6% y-o-y to $1. 14 billion. It generated a normalized EPS of $3. 40 to the quarter, exceeding the analyst estimates simply by $0. summer.
On Sept 15, Flagstone Inc. (NASDAQ: ADBE) announced that it had entered into an agreement to acquire Figma, the collaborative design platform, with regard to $20 billion dollars comprising half cash plus half stock compensation. Even though the acquisition makes business sense, the price tag in addition to timing has raised concerns for investors and analysts, which offers resulted in a new significant drop in the share cost.
By Q2 2022, Glass Inc. (NASDAQ: ADBE) shares were held by simply 92 out of 895 hedge funds tracked by Insider Monkey with some sort of total value of $7. 5 million. Its largest shareholder was Fisher Asset Management with ownership of nearly 6. 2 million shares valued at $2. 3 thousand.
Companies like Apple Inc. (NASDAQ: AAPL), Uber Technologies, Inc. (NYSE: UBER), and even Microsoft Corporation (NASDAQ: MSFT) are also big tech stocks many hedge funds own.
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Disclosure: None. 12 Finest Big Tech Stocks in order to Buy Now is originally published on Insider Monkey.