13 Best Forever Stocks to Buy Right Now

Page 10 of 12

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 158

Apple Inc. (NASDAQ:AAPL) is a tech behemoth known for its flagship products, such as the iPhone, Mac, and Apple Watch, as well as its varied portfolio of services, including iCloud and Apple Music.

According to Morgan Stanley, Apple Inc. (NASDAQ:AAPL)’s latest AI program, Apple Intelligence, looks to have given iPhone demand a tiny lift in the United States during the December quarter. However, the impact was limited and mostly focused on discounted older models rather than the most recent iPhone portfolio. Looking ahead, Morgan Stanley anticipates iPhone demand in emerging nations other than China to remain robust, with India leading the charge.

On February 4, JPMorgan reiterated its Overweight rating and $270 price target for Apple Inc. (NASDAQ:AAPL). The firm report was based on Sensor Tower data, which revealed that Apple’s App Store sales increased by 2.7% month-over-month in January, above the historical average growth rate of 2.3% from December to January. This expansion also aided in accelerating year-over-year sales trends, with a 17.6% rise in January compared to 13.1% in December of last year.

Page 10 of 12