The markets have slowly reopened, and economic activity seems to be busier than ever. Investors are thinking about the practicality of investing in companies and sectors that are most likely benefiting from economic recovery. Tech companies seem not to be it.
However, billionaire Laffont seems to prefer this sector was information technology accounts for 31% of his portfolio, next to the consumer and communication sector at 28% and 26%, respectively.
Here is a summary of the 10 Best Tech Stocks to Buy Now.
First, it would be the e-commerce giant Amazon.com. It had robust revenue during the pandemic year, hitting almost $125 billion. However, their stock seems to only be at 5.5%. Investing in Amazon is suitable for beginner investors because it is expected to continue its double-digit revenue in 2021. Another company in the red would be payment technology provider Global Payments Inc, as stocks have fallen by almost 70%.
Peloton Interactive, Inc is an online interactive fitness platform in a good place to invest in. In early 2021, their stock price selloff was 28%. There have been many new users because of the social distancing policies and restrictions because of the pandemic. On the other hand, Netflix, an application used by many, is expected to have negative growth post-pandemic. Many people are already going out and continuing their everyday lives.
CrowdStrike Holdings, Inc seems to be in a good position after Laffont’s buy as it represents 3.14% of his portfolio. Laffont also owns shares in Zoom Video Communications, Inc. The company grew over 112% and had Coatue Management has 2.5 million shares.
Laffont’s Coatue Management has shares in Uber, almost 4.04% of his total portfolio. The company’s shares grew by 5% extending its monthly gains by 60%. Tesla Motors Inc is the world’s largest electric vehicle manufacturer; however, in 2021, they seem to be struggling versus last year’s growth. Laffont has a 30% stake in the company.
The top 2 companies in Laffont’s list are payment technology giant Paypal Holdings which is expected to have a good performance in 2021, and Walt Disney. It had a 4.5% growth in 2020. Coatue Management increased its stake by 17% of the overall portfolio.
Read more of Insider Monkey’s 10 Best Tech Stocks to Buy Now here.
