Berkshire Hathaway and Billionaire David Tepper Are Piling Into Alphabet Stock. Here Is Why the Tech Giant Is a Screaming Buy.
Alphabet was a popular buy among some successful funds in Q2.
Overview
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has become one of the most popular artificial intelligence (AI) investments among major hedge funds. It was one of the last stocks that legendary CEO Warren Buffett bought at Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), and the firm is still purchasing more shares of it even after he retired from that role. David Tepper, who runs Appaloosa Management, also loaded up on Alphabet shares during the last quarter, and the position now makes up nearly 9% of his firm's portfolio.
Those are some major players confidently investing in Alphabet, despite its strong performance over the past year (it's up over 65%). I think there's a good chance that it can go higher from here, as it's one of the top big tech stocks available on the market.
Image source: The Motley Fool.
Details
Source
Originally published at www.fool.com.