BlackRock Inc is the most prominent asset management firm in the world, with over $5 trillion in assets under management as of December 2018. When BlackRock picks a stock, the whole market pays attention to that stock. In this article, we will analyze BlackRock’s stock picks of the fourth quarter of 2018, with a particular focus on technology stocks.
Here are the most favorite tech stocks of BlackRock Inc.
Microsoft Corporation (NASDAQ: MSFT)
BlackRock Inc acquired about 3.26 million new shares of Microsoft in the fourth quarter of 2018, upping its stake in the company to 507,006,157 shares. The hedge fund now owns a stake of worth over $51 billion in Microsoft. BlackRock’s love for MSFT isn’t without reason. The Redmond software giant is sitting on $127.7 billion cash. The most significant catalyst for Microsoft is Azure Cloud platform, which has grown more than 76% over the last few quarters. Microsoft is also betting big on Enterprise apps, LinkedIn, Surface devices, gaming, and search.
Apple Inc. (NASDAQ: AAPL)
BlackRock remained long on Apple stock in the fourth quarter of last year. The fund bought 805,069 more shares of Apple, ending the quarter with about 296.59 million shares of the company. BlackRock has a history with Apple. The firm also had a board seat at Apple. However, when we look at the primary growth catalysts for Apple, the situation remains skeptical. Apple is currently struggling to maintain its iPhone revenue stream, amid saturation in the market and new entrants. According to an analysis by CNBC, Wall Street is turning extremely bearish on Apple stock.
Amazon.com, Inc. (NASDAQ: AMZN)
As of the end of the fourth quarter of 2018, BlackRock had about $38 billion worth of shares of Amazon. Amazon has been skyrocketing for several reasons, including the retail giant’s massive growth. Amazon is practically disrupting the physical storage space of the retail sector in the US. On March 11, Goldman Sachs recommended investors to buy Amazon stock yet again, citing huge growth catalysts. Amazon isn’t limited to the retail sector anymore. Recently, the company made waves as it revealed a $700 million investment in Rivian, an autonomous driving startup. Analysts think that Amazon’s entry into the automotive industry will create new growth horizons for the company and sector in general.
Alphabet Inc Class A (NASDAQ: GOOGL)
BlackRock also acquired more shares of Alphabet Inc Class A (NASDAQ: GOOGL), the darling stock of the technology industry these days. BlackRock now has about 18.76 million Alphabet shares, which have a net worth of about $19.61 billion. Alphabet remains a diverse company with several massive revenue streams. Alphabet Inc Class A (NASDAQ: GOOGL) Google is spending heavily on research and development. Last year, the company paid $21.4 billion for R&D. This investment will create new and futuristic catalysts for the stock soon.