5 Best Tech Stocks to Buy Now According to Lee Munder’s Hedge Fund

2. Apple Inc. (NASDAQ:AAPL)

Lee Munder Capital Group’s Stake Value: $55,960,000

Percentage of Lee Munder Capital Group’s 13F Portfolio: 3.85%

Number of Hedge Fund Holders(Q1): 131

Despite being the world’s largest company by market cap, Apple Inc. (NASDAQ:AAPL) could only manage the 11^th spot in our rankings of the most popular stock among smart money investors for Q1. Only 131 of the 912 hedge funds we track disclosed having a stake in the smartphone giant at the end of that period. The Oracle of Omaha’s Berkshire Hathaway held close to 900 million shares of Apple Inc. (NASDAQ:AAPL), worth over $155 billion, at the end of March, making it the largest shareholder of the company by a wide margin among funds tracked by us.

Ming-Chi Kuo, an analyst at TF International Securities, wrote a small Twitter thread on August 10 arguing that Apple Inc. (NASDAQ:AAPL) could raise the average selling price of its iPhone 14 series. Mr. Kuo tweeted:

Hon Hai/Foxconn is one of the winners of the increased ASP of iPhone 14 series. I estimated iPhone 14 series ASP would increase by about 15% (vs. iPhone 13 series ASP) to $1,000-1,050 (USD) due to two iPhone 14 Pro’s price hikes & higher shipment proportion.

Hon Hai is the major EMS for iPhone 14 series (with a 60-70% order proportion), so its revenue will markedly benefit from an increased iPhone 14 series ASP. No wonder Hon Hai raises full-year performance to “growing” from “roughly flat.”