5 Best Technology Stocks That Outperformed in 2022

1. Apple Inc. (NASDAQ:AAPL)

Year to Date Return as of December 14: -21.32%

Number of Hedge Fund Holders: 140

Apple Inc. (NASDAQ:AAPL) ranks #1 on our list of 12 Best Technology Stocks That Outperformed in 2022 given 140 hedge funds in our database owned shares of the iPhone maker at the end of Q3. Although shares of Apple Inc. (NASDAQ:AAPL) have declined 21.32% year to date as of December 14, the company’s stock has nevertheless outperformed the Nasdaq and many other big tech companies as well this year. One reason could be Apple Inc. (NASDAQ:AAPL)’s considerable loyal customer base and the company’s strong financial history of returning capital back to shareholders.

Wedgewood Partners commented on Apple Inc. (NASDAQ:AAPL) in a Q3 2022 investor letter,

Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as software, continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.

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