Top 6 FAANG Stocks: This article will examine the eleven most advantageous FAANG equities for investment purposes. You can bypass our comprehensive analysis of the technology sector by visiting the Five Finest FAANG Stocks to Invest in.
Beyond the Magnificent Seven and from FAANG
The technology sector has experienced consistent growth for a considerable period of time. The industry’s unwavering preoccupation with Artificial Intelligence is the most apparent factor driving its ascent to ever-increasing heights. Numerous AI-focused organizations today are large technology conglomerates, such as the FAANG. In modern times, however, a novel designation for the top technology firms is gaining prominence: the Magnificent Seven.
By analyzing Insider Monkey’s hedge fund data for the third quarter and selecting significant technology companies with the greatest number of hedge fund investors, we compiled our list of the top FAANG stocks to invest in. The ranking is based on the quantity of hedge funds that have invested in each entity, with the lowest number representing the highest. Over the past decade, the top ten consensus stock choices of hedge funds have outperformed the S&P 500 Index by over 140 percentage points (see details here). Hence, we accord considerable significance to this frequently disregarded indicator.
Investing in the Top FAANG Stocks
6. Netflix, Inc. (NASDAQ: NFLX)
Netflix, Inc. (NASDAQ: NFLX) is a founding member of the FAANG. It is a streaming company that administers the widely used Netflix online streaming platform. Its headquarters are located in Los Gatos, California.
On January 25, DZ Bank analyst Markus Leistner increased his rating on Netflix, Inc. (NASDAQ: NFLX) shares from Hold to Buy, accompanied by a price target of $600.
At the end of the third quarter, Netflix, Inc. (NASDAQ: NFLX) was identified in the 13F holdings of 102 hedge funds. Their investment in the corporation had a total value of $7.8 billion.
Netflix, Inc. is similar to Amazon.com, Meta Platforms, Inc. (NASDAQ: META), and Apple Inc. (NASDAQ: AAPL) in that it is currently one of the top FAANG securities to purchase.
5. Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM)
On January 19, Simon Coles of Barclays maintained an Overweight rating on shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM). Additionally, the analyst increased the stock’s price target from $110 to $125.
The NYSE: TSM-listed Taiwan Semiconductor Manufacturing Company Limited is a provider of information technology. Other semiconductor devices, including integrated circuits, are manufactured and sold by the organization. Its headquarters are in Taiwan.
A total of 107 hedge funds held a $9.7 billion position in Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) during the third quarter.
As of the conclusion of the third quarter, Fisher Asset Management maintained the largest stakeholder position in Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), with a substantial holding of 31.1 million shares.
4. AMD (NASDAQ: Advanced Micro Devices, Inc.)
In the third quarter, a total of 110 hedge funds held positions in Advanced Micro Devices, Inc. (NASDAQ: AMD), amounting to a $9.2 billion stake.
Our list of the top FAANG equities to purchase also includes Advanced Micro Devices, Inc. (NASDAQ: AMD), a semiconductor company. Among other products, the Santa Clara, California-based company provides embedded processors, chipsets, and graphics processing units.
As of February 1, Goldman Sachs analyst Toshiya Hari maintains a Buy rating on shares of Advanced Micro Devices, Inc. (NASDAQ: AMD). Additionally, the analyst increased the firm’s stock price target from $157 to $180.
Stocks chosen by ChatGPT significantly outperform UK fund managers
3. Adobe Inc. (ADBE: NASDAQ)
Fisher Asset Management held the most shares of Adobe Inc. (NASDAQ: ADBE) after the third quarter, amounting to 4.6 million.
San Jose, California-based computer software company Adobe Inc. (NASDAQ: ADBE) is among the most alluring stocks on our list of the top FAANG stocks to purchase. Document Cloud, a unified cloud-based platform for document services, and Creative Cloud, a subscription service that grants access to creative products, are among its offerings.
As of January 2, Adobe Inc. (NASDAQ:ADBE) shares are rated Overweight by Brent Bracelin of Piper Sandler. Additionally, the analyst increased the stock’s price target from $650 to $705 per share.
112 hedge funds held Adobe Inc. (NASDAQ: ADBE) investments during the third quarter. They owned a stake in the company worth a total of $8.2 billion.
2. CRM, Inc. (NYSE: Salesforce)
An application software company, salesforce.com, Inc. (NYSE: CRM), is headquartered in San Francisco, California. It provides technology for customer relationship management (CRM).
As of the conclusion of the third quarter, 122 hedge funds held long positions in salesforce.com, inc. (NYSE: CRM), amounting to a cumulative stake value of $10.5 billion.
Rob Oliver of Baird maintained an Outperform rating on salesforce.com, Inc. (NYSE: CRM) on January 23. Additionally, the analyst increased the stock’s price target from $300 to $310.
Top 8 Big Company Stocks to Consider for Investment – Eduvast.com
1. Apple Inc. (AAPL: NASDAQ)
As of the conclusion of the third quarter, Fisher Asset Management maintained the largest stake in Apple Inc. (NASDAQ: AAPL), with 54.9 million shares in the company.
As of February 2, Samik Chatterjee of JP Morgan has maintained an overweight rating and a $215 price target on Apple Inc. (NASDAQ: AAPL).
A major technology company, Apple Inc. (NASDAQ: AAPL) is one of the top FAANG equities on our list. It is headquartered in Cupertino, California, and its flagship products, the iPhone, iPad, and Mac, are widely recognized.
Apple Inc. (NASDAQ: AAPL) was the subject of investments by 134 hedge funds, according to our hedge fund data for the third quarter. Their investment in the corporation had a total value of $179 billion.
