Billionaire Ken Fisher’s Top 5 Stock Picks

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1. Apple Inc. (NASDAQ:AAPL)

Fisher Asset Management’s Holdings: $8,632,250,000
Percentage of Fisher Asset Management’s Portfolio: 5.22%

Apple Inc. (NASDAQ:AAPL) is a global company that creates, produces, and sells various products including smartphones, personal computers, tablets, wearables, and accessories.

Canaccord analyst T. Michael Walkley maintained a ‘Buy’ rating on Apple Inc. (NASDAQ:AAPL)’s shares and raised the price target from $180 to $185 on May 5. In the first quarter of 2023, Fisher Asset Management held 52.35 million shares of Apple Inc. (NASDAQ:AAPL) worth over $8.63 billion, representing 5.22% of the firm’s total portfolio. The hedge fund decreased its stake in Apple Inc. (NASDAQ:AAPL) by 13% in the first quarter of 2023.

In its Q1 2023 investor letter, RiverPark Advisors shared a comment about Apple Inc. (NASDAQ:AAPL):

“Apple Inc. (NASDAQ:AAPL): Apple shares were our final top contributor for the quarter. While the company reported a rare quarterly earnings miss, investors had expected slower sales due to macro headwinds. Services continue to be a bright spot for the company with an all-time high of $21 billion in quarterly revenue, a 6% year-over-year increase, and management expects iPhone revenue growth to re-accelerate in 2Q. Operating Cash Flow was $34 billion for the quarter, and the company returned $23 billion to shareholders in the last three months, including $4 billion in dividends and $19 billion in share repurchases.

With an installed base of 2 billion active devices and significant growth of the company’s recurring revenue Services segment (now 18% of revenue), we believe that Apple remains one of the most innovative, best-positioned and most profitable companies in the mobile technology industry.”

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