5 Hot Tech Stocks To Buy Now

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1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140     

YTD Perf: 11.05%

3 Month Avg Volume: 78.3M

Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. On January 30, an analysis by tech expert Ming-Chi Kuo indicated that a foldable iPad could be launched in 2024. Kuo stated that since there will be no launch in 2023, the next iPad will come out in 2024, with the iPad Mini starting mass production in the first quarter of 2024.

On December 19, JPMorgan analyst Samik Chatterjee maintained an Overweight rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target to $190 from $200, highlighting that recent supply chain issues at the company’s operations at Hon Hai’s assembly factory in Zhengzhou are expected to be reflected in the company’s December quarter results.

At the end of the third quarter of 2022, 140 hedge funds in the database of Insider Monkey held stakes worth $144 billion in Apple Inc. (NASDAQ:AAPL), compared to 128 in the previous quarter worth $143 billion.

In its Q2 2022 investor letter, Alger Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“Apple Inc. (NASDAQ:AAPL) 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. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact the production of apple products, however, the manufacturing facilities have resumed activity.”

You can also take a peek at 10 Best ASX Stocks To Buy and 15 Most Creative Companies in the World.

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