5 Trending Stocks to Watch on Monday

Page 5 of 5

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) made its way into the headlines today after multiple reports suggested that iPhone production could take a hit due to increasing coronavirus restrictions in China.

One of the reports stated that iPhone production could drop by up to 30 percent at Foxconn’s biggest iPhone manufacturing plant located in Zhengzhou. Apple Inc. (NASDAQ:AAPL) shares slipped nearly two percent following the news.

Apple Inc. (NASDAQ:AAPL) largely relies on Foxconn for producing iPhones. Meanwhile, Foxconn is reportedly planning to increase iPhone production at its Shenzhen facility to make up for the shortfall at Zhengzhou plant.

Follow Apple Inc. (NASDAQ:AAPL)

Separately, investment management firm Wedgewood Partners discussed Apple Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter, stating:

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.”

You can also take a peek at 10 Best Dividend Stocks for Growth and 12 Best Consumer Staple Stocks.

Page 5 of 5