5 Best Stocks to Buy on Robinhood for Beginners

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 135

Apple Inc. (NASDAQ:AAPL) is one of the best stocks to buy on Robinhood for beginners. It is also a favorite of Wall Street analysts. Recently, Gene Munster, managing partner at Deepwater Asset Management, said in an interview with CNBC that Apple Inc. (NASDAQ:AAPL) is “probably the safest place to be” amid the current market turmoil. The analyst also praised Apple Inc. (NASDAQ:AAPL)’s performance compared to other major tech companies. The analyst continues to believe that tech stocks will start recovering in the second half of 2023 and will have a “great year” in 2024. Earlier this year the analyst gave a $250 price target for Apple Inc. (NASDAQ:AAPL).

At the end of the fourth quarter of 2022, 135 hedge funds had stakes in Apple Inc. (NASDAQ:AAPL). The biggest stakeholder of Apple Inc. (NASDAQ:AAPL) was Warren Buffett’s Berkshire Hathaway which owns an $116 billion stake in the company.

Here is what Distillate Capital has to say about Apple Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter:

“The largest new purchase was Apple Inc. (NASDAQ:AAPL), which after underperforming saw its valuation improve significantly. Over the course of the last year, Apple’s consensus estimated forward free cash flows rose modestly, while its enterprise value fell by around 30%. Apple ranks below the 25th most attractive name in the portfolio and so its weight is capped at 4% vs. 6% for names in the top quartile.”