10 Best Reddit Stocks To Buy Right Now

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 184

Apple Inc. (NASDAQ:AAPL) is a tech giant known for its sleek and innovative products. Its iPhones are among the most popular smartphones globally, and its iPads are top-selling tablets. It also makes powerful Mac computers, stylish Apple Watches, and the popular AirPods. The focus on user experience and design has made it a beloved brand, and its services like Apple Music and Apple TV+ are rapidly growing.

Apple Intelligence, which was the company’s new GenAI platform announced in June, is now available to US English users on iPhone, iPad, and Mac. Additional features, such as visual intelligence and ChatGPT integration, will be released in December, along with localized support for English in several countries.

The company reported a record-breaking September quarter, with revenue reaching $94.93 billion, a 6.07% year-over-year increase. iPhone sales surged across all regions, setting a new record. Services revenue also hit an all-time high, growing 12% and was driven by Apple TV+.

Despite recent market challenges, Apple Inc. (NASDAQ:AAPL) remains a strong investment. Positive analyst sentiments and the potential for future growth, particularly in AI, suggest a bullish outlook for the company. While short-term concerns exist, its long-term prospects remain robust, making it a compelling choice for investors.

Wedgewood Partners stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q3 2024 investor letter:

“Apple Inc. (NASDAQ:AAPL) also contributed to performance as investors continued to favorably discount the recent unveiling of its AI strategy. As we have noted in the past, the Company has been at the forefront of proprietary semiconductor computer processor development for well over a decade. Given the compute-intensive nature of AI applications, Apple is well situated to develop a suite of compelling, consumer-friendly AI services that are also cost-effective. Apple’s AI value proposition should compel consumers to continue growing their engagement in the Apple ecosystem over the next several years.”