AQR Capital’s Top 5 Stock Picks

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140

AQR Capital’s Stake Value: $1,377,056,000

Apple Inc. (NASDAQ:AAPL) has featured on the AQR portfolio since Q4 2010, except for minor breaks over the years. In the third quarter of 2022, AQR Capital held approximately 10 million shares of Apple Inc. (NASDAQ:AAPL), worth $1.37 billion and representing 3.35% of the total portfolio. 

On November 14, JPMorgan analyst Samik Chatterjee said the impact of the latest supply chain challenges faced by Apple Inc. (NASDAQ:AAPL) in response to operations at the assembly facility in Zhengzhou, China are hard to quantify. However, the analyst sees a “limited impact on demand” for the iPhone 14 product cycle through fiscal 2023 and the opportunity to acknowledge the shortfall in the March quarter “might give long-term investors several attractive buying opportunities into the shares through to the year-end.” He maintained an Overweight rating on Apple Inc. (NASDAQ:AAPL) with a $200 price target.

According to Insider Monkey’s Q3 data, 140 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL), compared to 128 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway held the biggest stake in the company, comprising 894.80 million shares worth $123.6 billion. 

Here is what Wedgewood Partners specifically said about Apple Inc. (NASDAQ:AAPL) in its 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.”

You can also take a look at Top 10 Clothing Companies in the World and Biggest Beauty Companies in the World.