Beech Hill’s Favorite Tech Stocks This Quarter

#2 Facebook Inc (NASDAQ:FB)

– Shares Owned by Beech Hill (as of March 31): 65,900

– Value of Holding (as of March 31): $7.52 Million

Even though it is still Beech Hill’s second largest holding, but it was reduced by a significant 22% during the first trimester. Worried about users adopting a more passive attitude and scrolling through other people’s content rather than creating their own, Facebook Inc (NASDAQ:FB) is developing a Snapchat-like camera app, according to Wall Street Journal. The social networking platform has also benefitted significantly from the mobile platform as 80% of fourth quarter revenues came from that segment as compared to about 25% three years ago. The stock price has climbed up by 15% so far this year boosted by strong financial results delivered in the first quarter. David Kelden‘s Bukingham Capital Management raised its exposure to Facebook Inc (NASDAQ:FB) by 21% to 109,800 shares during the first quarter.

#1 Apple Inc. (NASDAQ:AAPL)

– Shares Owned by Beech Hill (as of March 31): 84,309

– Value of Holding (as of March 31): $9.19 Million

Almost unchanged, Beech Hill’s Apple Inc. (NASDAQ:AAPL) holding represented 7.19% of its portfolio. The stock is down by nearly 0.9% on a year-to-date basis following rather dull financial results for the second fiscal quarter. While the reported EPS of $1.9 missed expectations by $0.1, revenues of $50.6 billion were $1.37 billion short of the figure analysts had in mind. Sales of iPhones and iPads were above expectations, but Mac sales missed the projections. Eric Sprott’s Sprott Asset Management initiated a stake in Apple Inc. (NASDAQ:AAPL) during the first three months and reported holding 355,500 shares in its latest 13F filing.

Disclosure: None