5 Web 3.0 Stocks to Buy and Hold for Long Term

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134  

Apple Inc. (NASDAQ:AAPL) is a California-based tech firm. The company recently banned data tracking, closely aligning itself with the privacy and security that is the hallmark of blockchain and Web 3.0. As one of the leading tech brands in the world, it has also been promoting the metaverse and cryptocurrencies, two important Web 3.0 domains. 

Apple Inc. (NASDAQ:AAPL) is one of the most valued tech stocks in the finance world. Among the hedge funds being tracked by Insider Monkey, Washington-based firm Fisher Asset Management is a leading shareholder in Apple Inc. (NASDAQ:AAPL) with 63 million shares worth more than $11.3 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 Inc. (NASDAQ:AAPL) 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 Inc. (NASDAQ:AAPL) was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”