10 Best 5G Stocks To Buy According to Short Sellers

3. Apple Inc. (NASDAQ:AAPL)

Short Interest as % of Shares Outstanding: 0.77%

Number of Hedge Fund Holders: 184

Apple Inc. (NASDAQ:AAPL) is a leading American multinational technology company headquartered in Cupertino, California. It is known for its innovative consumer electronics, software, and services, and is best known for its flagship products including the iPhone, iPad, Mac computers, Apple Watch, and Apple TV. The company also offers a suite of services such as Apple Music, iCloud, and Apple Pay. It takes the 3rd spot on our list of best 5G stocks according to short sellers.

Apple’s (NASDAQ:AAPL) 5G journey started with its iPhone 12 in 2020 and it supported more 5G frequencies than any of its competitors in the market. While the company still uses Qualcomm modems, KGI Securities analyst, Ming-Chi Kuo believes that the company has plans to launch two iPhone models with its in-house 5G modem in 2025.

Apple (NASDAQ:AAPL) took the first major step toward the development of its modems when it agreed to acquire the majority of Intel’s smartphone modem business for $1 billion in 2019. The acquisition brought around 2,200 Intel employees, intellectual property, and equipment to Apple. Ming-Chi Kuo believes that a fourth-generation iPhone SE in the first quarter and a new ultra-thin iPhone 17 in the third quarter could have the company’s own modems.

In the second quarter, 184 hedge funds had stakes in Apple (NASDAQ:AAPL) at a combined value of $124.175 billion. As of Q2, Berkshire Hathaway owns 400 million shares of the company, worth $84.25 billion, making it the most prominent shareholder.

Mar Vista Investment Partners, LLC stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q2 2024 investor letter:

“Investors were reminded of the strength of the Apple Inc. (NASDAQ:AAPL) ecosystem as management demonstrated how generative AI solutions would be integrated into Apple’s 1.2 billion iPhone installed base. Apple plans to integrate generative AI features into its iOS 18, which will be broadly released in the fall with the iPhone 16. We believe Apple should benefit from generative AI as it will spur a meaningful iPhone upgrade cycle and create new avenues of monetization through its app store and advertising offerings. We believe this will support intrinsic value growth that will range between high-single-digits and low-double-digits over our investment horizon.”