10 Best Most Active Stocks To Invest In Now

8. Apple Inc. (NASDAQ:AAPL)

Volume: 10.573 million

Average Volume (3-Month): 56.172 million

Number of Hedge Fund Holders: 184

Apple Inc. (NASDAQ:AAPL) is a multinational corporation best known for its consumer electronics, software, and online services. Famous products include the iPhone, iPad, Mac, and Apple Watch, renowned for their focus on user experience, innovative design, and ecosystem of services including the App Store and Apple Music.

The revenue in FQ3 2024 rose by 4.87% year-over-year, with the services division setting a record at $24.2 billion, growing 14% year-over-year. iPhone revenue reached $39.3 billion, despite a slight decline. Moreover, Mac revenue grew by 2% to $7 billion, and iPad revenue by 24% year-over-year.

Shipments for the latest iPhone 16 appear to be lower than last year, according to UBS data. Delivery wait times for the iPhone 16 Pro Max models are shorter than last year in major markets.

In the US, wait times for the iPhone 16 are 26 days, down from 40 days last year. In China, they’re 18 days compared to 36. Despite upcoming Apple Intelligence features, initial pre-order sales for the iPhone 16 series are estimated at 37 million units, down 12.7% year-over-year.

Just a few weeks after launching the new iPhone with Apple Intelligence, the company is likely to unveil new versions of the MacBook Pro, iMac, and Mac Mini in October. These computers will also come pre-loaded with Apple Intelligence and are expected to rival AI workloads of PCs announced by Microsoft. Apple Inc. (NASDAQ:AAPL) debuted Apple Intelligence in June, its first step into the world of GenAI.

Despite potential challenges related to iPhone upgrade cycles and the services business, the company’s strong brand recognition, innovative product lineup, and expanding ecosystem position it well for continued growth.

Parnassus Growth Equity Fund stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q2 2024 investor letter:

Apple Inc. (NASDAQ:AAPL) gained but detracted from relative performance due to our underweight. While the company’s overall and iPhone revenues declined year over year, the unveiling of an upgraded iPad Pro and iPad Air boosted investor sentiment. In particular, the introduction of generative AI features allayed concerns that Apple was not keeping pace with competitors.”