10 Most Buzzing Stocks To Buy Now

2. Apple Inc. (NASDAQ:AAPL)

Volume: 43.617 million

Average Volume (3-Month): 63.905 million

Number of Hedge Fund Holders: 184

Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm, known as the company behind iPhones. These iPhones alone make up 46% of the company’s net sales. It also offers services including iCloud, Apple Pay, Apple Music, and Apple TV+.

In FQ3 2024, the company launched Apple Intelligence, a personal intelligence system backed by AI, integrated into all new iPhone, iPad, and Mac models.

It plans to launch the next generation of the iPhone lineup in September. This annual event is receiving a lot of attention because the company is expected to unveil new AI features for these phones. Lagging iPhone sales in recent years have slowed the revenue growth for the company, and this AI upgrade is expected to change its growth outlook. However, even more advanced AI features will not roll out earlier than 2025.

On August 29, 2024, The Wall Street Journal reported that Apple Inc. (NASDAQ:AAPL) is eyeing a major investment in OpenAI, along with NVIDIA, as part of a funding round led by Thrive Capital that would value OpenAI at $100 billion.

The revenue for this fiscal quarter was up 4.87% year-over-year. Of this, the iPhone reported revenue worth $39.3 billion and Mac revenue was $7 billion, up by 2% from a year ago.

Apple Inc. (NASDAQ:AAPL) is also a great choice for ESG investors, given its commitment to labor rights, environmental responsibility, and ethical business practices. It has reduced its overall greenhouse gas emissions by over 55% since 2015, marking progress toward its 2030 goal of achieving carbon neutrality across its entire value chain.

Currently, 184 hedge funds are long in Apple Inc. (NASDAQ:AAPL). Berkshire Hathaway has the highest stake in the company, with a position of $84,248,000,000.

Mar Vista Focus strategy 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.”