5 Blue Chip Stocks to Buy Now According to Billionaire D. E. Shaw

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1. Apple Inc. (NASDAQ:AAPL)

D E Shaw’s stake value: $1.1 billion

Percentage of D E Shaw’s Portfolio: 1.3%

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) creates, manufactures, and distributes smartphones, personal computers, tablets, wearables, and accessories, in addition to selling a variety of accessories. Additionally, the business provides payment, digital content, cloud, and advertising services.

According to Reuters, Apple Inc. (NASDAQ:AAPL) intends to deploy an improved version of TSMC’s latest chip in iPhones and Macbooks next year. The A17 mobile CPU, currently in development, will be mass-produced utilizing TSMC’s N3E chipmaking technology, with availability expected in the second half of next year. During Q2 2022, D E Shaw decreased its stake in the company by 9%. The fund’s total stake in the company amounted to roughly $1.11 billion, which represented 1.3% of its 13F portfolio.

Here’s what Wedgewood Partners said about Apple Inc. (NASDAQ:AAPL) in its Q2 2022 investor letter:

“Apple grew revenues +9%, driven by +17% growth in the Services segment. While iPhone revenues grew a modest +5%, it was on an exceptional year ago comparison of +66%. iPhone continues to capture most industry smartphone profits by focusing on high-end price tiers. Apple is taking nearly two-thirds of the revenue share in the premium ($400 and above) smartphone segment. Further, most of the growth was driven by expansion in the “ultra-premium” price tier of $1000 or more per unit.[1] As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially integrated circuits) and 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.”

At the end of Q2 2022, 128 hedge funds tracked by Insider Monkey owned stakes in Apple Inc. (NASDAQ:AAPL). Berkshire Hathaway was the stock’s leading stakeholder in Q2, owning Apple Inc. (NASDAQ:AAPL) shares worth over $122 billion. The fund’s position in the stock increased by 1% from Q1 2022.

You can also take a look at 10 High-Yield Dividend Stocks for Stable Income and 10 Dividend Stocks to Buy According to Billionaire Cliff Asness.

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