5 Cheapest Stocks on Robinhood

In this article, we discuss 5 of the cheapest stocks on Robinhood. If you want to see more of the cheapest stocks on Robinhood, the risk/reward and methodology of this list, go directly to 12 Cheapest Stocks on Robinhood.

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) has fallen 24% year to date given the macroeconomic headwinds. Given the stronger U.S. dollar, Apple Inc. (NASDAQ:AAPL)’s international earnings are lower in dollar terms, and given inflation, some consumers are choosing to buy cheaper smartphones rather than the iPhone. While the company faces headwinds, Apple Inc. (NASDAQ:AAPL) nevertheless has a huge loyal userbase and the company still has growth opportunities if it sells more services or expands its ecosystem.

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.