10 Best Tech Stocks For Long Term Investment

6. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 158

Apple Inc. (NASDAQ:AAPL) is a leading technology company known for its cutting-edge products. Its most popular products include the iPhone, iPad, Mac computers, Apple Watches, and AirPods. Its dedication to user experience has cultivated a loyal customer base, and its subscription services, including Apple Music and Apple TV+, are experiencing significant growth.

It has made strides in the AI sector with the introduction of Apple Intelligence, a system designed to enhance user experience across its devices. Launched in June, Apple Intelligence aims to deliver personalized AI experiences through generative models that integrate seamlessly into iOS 18, iPadOS 18, and macOS Sequoia.

The company’s collaboration with Amazon Web Services (AWS) marks a pivotal move in its AI strategy. In December, Apple Inc. (NASDAQ:AAPL) reported that it is currently using AWS’ custom AI chips for services like search. By utilizing AWS’ Trainium 2 chips for pre-training its models, Apple Inc. (NASDAQ:AAPL) enhances its AI capabilities while positioning itself competitively against major players like Microsoft Azure and Google Cloud. This partnership underscores the company’s commitment to leveraging external expertise while maintaining its focus on privacy and security.

Mar Vista Strategic Growth Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q3 2024 investor letter:

“Apple Inc. (NASDAQ:AAPL) stock was strong in the quarter as investors viewed the company’s generative AI roadmap and iPhone 16 product cycle positively. The market was reminded of the strength of the Apple ecosystem as management demonstrated how generative AI solutions would be integrated into its iOS 18 operating system, which was broadly released in the iPhone 16 late in calendar Q3. We believe Apple’s generative AI-enabled products should 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.”