Another top buy among hedge funds in Q1 was Microsoft (NASDAQ: MSFT ). Also viewed as a way to play the AI revolution, hedge fund managers piled into MSFT stock as its share price lingered near a 52-week low in early Jan. By May, the stock hit a 52-week high thanks to expectations for AI and the development of OpenAI, in which it has invested more than $10 billion. Microsoft has already integrated OpenAI's ChatGPT artificial intelligence application into its Bing search engine, breathing new life into the search bar. Better, Microsoft remains a best-of-breed technology firm Helping, analysts at Jefferies (NYSE: JEF ) recently raised its price target on MSFT stock to $400 and maintained a "buy" rating on the shares.