5 Best Undervalued Stocks To Buy Now According To The Media

3. Apple Inc (NASDAQ:APPL)

No. Of Hedge Fund Investors: 134

Apple Inc (NASDAQ:APPL) ranks 3rd in our list of the best undervalued stocks to buy now according to the media. Dan Ives of Wedbush is the biggest Apple bull in the Street. In September, after the launch of iPhone 15, Ives gave a $240 price target on Apple Inc (NASDAQ:APPL). Ives thinks fears around the stock regarding China are overblown. He also thinks 250 million of the total iPhone users in the world haven’t upgraded their iPhones over the past four years and this could cause a new super-cycle for Apple Inc (NASDAQ:APPL) in terms of iPhone sales.

As of the end of the third quarter of 2023, 134 hedge funds out of the 910 funds tracked by Insider Monkey reported having stakes in Apple Inc (NASDAQ:APPL).

Carillon Clarivest Capital Appreciation Fund made the following comment about Apple Inc. (NASDAQ:AAPL) in its Q3 2023 investor letter:

“Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets mobile communication devices, personal computers and media devices. Shares fell following a report that Chinese government agencies have barred staff from using Apple products at work because of security concerns.”