5 Best Tech Stocks to Buy According to Peter Algert’s Algert Global

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1. Apple Inc. (NASDAQ:AAPL)

Algert Global’s Stake Value: $6,542,000

Percentage of Algert Global’s 13F Portfolio: 0.49%

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) is a leading technology company focused on the designing, manufacturing, and marketing of smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services.

Apple Inc. (NASDAQ:AAPL) also ranks as #1 in the list of both 5 and 10 best tech stocks to buy according to Peter Algert’s Algert Global.

Major products of Apple Inc. (NASDAQ:AAPL) include the iPhone, Mac PCs, iPad, and accessories while service offerings include Apple Care, Cloud Services, Digital Content and Payment services. iPhone sales accounted for more than half of its revenue in the last fiscal year. The company launched iPhone 14 in the first week of September which could result in a surge in the company’s revenue.

Algert Global owns 47,847 shares of Apple Inc. (NASDAQ:AAPL), making up 0.49% of the investment manger’s 13F portfolio. Its stake decreased by 5% in Q2 2022, compared to the previous quarter.

In July, Apple Inc. (NASDAQ:AAPL) released its financial results for the quarter ended June 25, 2022. Its net sales increased by 2% y-o-y to $83 billion, while its net income declined by 11% y-o-y to $19.4 billion, for the three months. It reported a normalized EPS of $1.20 for the quarter, beating the consensus by $0.04. Apple Inc. (NASDAQ:AAPL) declared a regular cash dividend of $0.23 per share for the quarter.

Apple Inc. (NASDAQ:AAPL) is among the stocks most widely held by hedge funds according to Insider Monkey data on 895 hedge funds. As of Q2 2022, 128 hedge funds held shares in Apple Inc. (NASDAQ:AAPL), valued at $143 billion. Warren Buffet’s Berkshire Hathaway was the largest shareholder on record with ownership of 895 million shares valued at $122 billion.

You can also take a look at 5 High-Yield Monthly Dividend Stocks to Buy in September and 9 Best Tech Stocks to Buy According to Hedge Funds.

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