5 Best Forever Stocks to Buy Now

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Hedge funds and Wall Street analysts widely concur that Apple Inc. (NASDAQ:AAPL) stands as an exceptional long-term investment option. This consensus is rooted in several factors, including Apple’s strong product lineup, substantial growth in services and software, and the company’s unwavering dedication to innovation and long-term strategies. The company has been favored by billionaire Warren Buffett for many years.

On May 4, Apple Inc. (NASDAQ:AAPL) disclosed its financial results for FQ2, outperforming Wall Street’s projections. The company achieved a GAAP EPS of $1.52 and generated revenue amounting to $94.84 billion, surpassing estimates by $0.09 and $2 billion, respectively.

Our hedge fund data for the first quarter shows 131 hedge funds long Apple Inc. (NASDAQ:AAPL). Their total stake value was $165 billion. Holding 915.6 million shares in the company, Warren Buffett’s Berkshire Hathaway was the largest stakeholder in Apple Inc. (NASDAQ:AAPL) at the end of the first quarter.

Silver Ring Value Partners made the following comment about Apple Inc. (NASDAQ:AAPL) in its first-quarter 2023 investor letter:

“Exited the Apple Inc. (NASDAQ:AAPL) put options position, as I came to the conclusion that I was wrong about the degree to which the stock is overvalued. While I still believe it’s optimistically priced, the fundamentals over the last few years made me believe that my initial decision to buy the put options was wrong.”

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