5 Trending Stocks on Reddit

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1. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Fund Holders: 138   

Apple Inc. (NASDAQ: AAPL) is ranked first on our list of 10 trending stocks on Reddit. The firm operates as a diversified technology company and is based in California. 

On July 28, investment advisory Loop Capital maintained a Buy rating on Apple Inc. (NASDAQ: AAPL) stock and raised the price target to $165 from $150, noting that the firm had delivered a second straight quarter of material upside across the board. 

At the end of the second quarter of 2021, 138 hedge funds in the database of Insider Monkey held stakes worth $145 billion in Apple Inc. (NASDAQ: AAPL), up from 127 in the preceding quarter worth $131 billion.

In its Q1 2021 investor letter, Distillate 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 is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”

You can also take a peek at 15 Most Valuable Lithium Companies in the World and 10 Best Nickel Stocks to Buy Now.

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