12 Best Stocks to Invest in for the Next 3 Months

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7. Apple Inc. (NASDAQ:AAPL)  

No. of Hedge Funds: 158  

Apple Inc. (NASDAQ:AAPL) is a globally renowned technology giant, known for its iconic products such as the iPhone, Mac, and Apple Watch. The company’s ecosystem, including services like iCloud and Apple Music, has built a loyal customer base.

On October 31, Apple Inc. (NASDAQ:AAPL) reported its fiscal 2024 fourth-quarter results ended September 28. The company reported a record-breaking quarter revenue, with revenue increasing 6% year over year to $94.9 billion. According to CEO Tim Cook, the strong revenue growth was driven by the success of the company’s latest product lineup, including the iPhone 16 series, Apple Watch Series 10, and AirPods 4. Cook also highlighted the company’s commitment to innovation, citing the recent release of Apple Intelligence features that prioritize user privacy and enhance the overall user experience.

On October 30, Apple introduced two new chips, the M4 Pro and M4 Max, which join the M4 to form the most advanced family of chips ever built for a personal computer. The M4 family of chips is designed to bring far more power-efficient performance and advanced capabilities to the Mac. All three chips are built using industry-leading, second-generation 3-nanometer technology, which improves performance and power efficiency.

In their third quarter 2024 investor letter, Madison Investments said the following regarding Apple Inc. (NASDAQ:AAPL):

“Alphabet Inc., Eli Lilly and Company, Qualcomm Incorporated, Microsoft Corporation, and Apple Inc. (NASDAQ:AAPL) were the largest detractors. Apple has been volatile in the last quarter but ended on strength. Early in the quarter, Apple benefited from the introduction of their AI strategy, Apple Intelligence. They followed in September with the new iPhone 16, which also created some excitement. We are underweight to Apple, which has resulted in a headwind for performance.”

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