5 Best Tech Stocks to Invest in For Long Term

Page 5 of 5

1. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Funds: 146

Apple Inc. (NASDAQ: AAPL) is a Cupertino-based multinational technology firm. The firm is famous for its electronic devices, including iPhone, the iPad, and others. It also develops and sells laptops and computers. Apple is the biggest technology company in the world in terms of market capitalization and has stakes in the cloud computing, navigation, and computer software businesses as well. It has an online music and video streaming service with millions of subscribers. Apple was founded in 1976 and is placed first on our list of 10 best tech stocks to invest in for long term gains.

On Mach 31, Swiss investment banking group UBS maintained a Buy rating on Apple stock, projecting good earnings for the company in the next six months as it prepares to launch new products. The investment firm set a price target of $142 for the technology company stock. 

At the end of the fourth quarter of 2020, 146 hedge funds in the database of Insider Monkey held stakes worth $141 billion in the firm, up from 134 in the preceding quarter worth $127 billion.

Our calculations show that Apple Inc. (NASDAQ: AAPL) ranks 10th in our list of the 30 Most Popular Stocks Among Hedge Funds.

Alger Spectra Fund, in their Q1 2021 investor letter, mentioned Apple Inc. (NASDAQ: AAPL). Here is what Alger Spectra Fund has to say about Apple Inc. in their Q1 2021 investor letter:

“Long position Apple Inc. was among the top detractors from performance. Apple is a leading technology provider in telecommunications, computing and services. Apple’s iOS operating system is the company’ s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. This tight engagement is facilitating significant growth in high margin services like music, apps and Apple Pay. Apple’s continued development of these high-margined services and earnings for wearable products such as the Apple Watch as well as the introduction of 5G phones is enhancing Apple’s growth. The shares detracted from portfolio performance as estimates of iPhone production were cut due to easing demand for the 12 Pro model and a normalizing inventory level.”

You can also take a peek at 10 Best Biotech Stocks To Buy For 2021, and Top 10 Best Freelancing Platforms and Websites for 2021.

Page 5 of 5