5 Best Stocks to Buy According to Billionaire Chris Rokos

3. Apple Inc. (NASDAQ:AAPL)

Rokos Capital Management’s Stake Value: $99.26 million 

Percentage of Rokos Capital Management’s Portfolio: 4.49%

Number of Hedge Fund Holders: 131

Among other trillion-dollar companies, Apple Inc. (NASDAQ:AAPL) also made its way into the Rokos Capital Management’s portfolio in the first quarter of 2022. The company makes up 4.49% of the 13F portfolio, with 560,960 shares worth $99.26 million. The most prominent shareholder of Apple Inc. (NASDAQ:AAPL) remains Warren Buffett’s Berkshire Hathaway.

Apple Inc. (NASDAQ:AAPL) has been launching new products since the beginning of 2022. On June 6, at the Worldwide Developers Conference, the company revealed its second-generation M2 chips after the success of its M1 chip for MacBooks. Before that, Apple Inc. (NASDAQ:AAPL) also unveiled its low-cost upgraded version of the iPhone SE as its latest 5G device. In addition to that, according to the first-quarter 2022 earnings report, the company had a revenue of $97.28 billion, compared to $93.99 billion estimates. The services revenue of the company increased by 17% YoY to $19.82 billion. Furthermore, Apple Inc. (NASDAQ:AAPL)’s home accessories and wearables sales saw a 12% surge to $8.81 billion.

On May 19, BofA analyst Wamsi Mohan lowered the price target of Apple Inc. (NASDAQ:AAPL) to $200 from $215 and maintained a Buy rating on its shares. The analyst also increased his iPhone unit estimates to 237 million for the fiscal year 2023 and 230 million for the year 2024. For the current fiscal year, the company is keeping the number of units at flat 220 million according to Bloomberg reports, compared to the estimated 240 million.

Here is what ClearBridge Investments had to say about Apple Inc. (NASDAQ:AAPL) in its fourth-quarter 2021 investor letter:

“Despite these mixed emerging growth results, the ClearBridge Global Growth Strategy outperformed the benchmark due to resilience among our secular and structural growth holdings. The bulk of these contributions came from U.S. mega-cap growth stocks Apple and Microsoft which continued to uniquely act both offensively and defensively as they have through most of the pandemic.”