Billionaire Ray Dalio’s Bridgewater Is Crazy About These 15 Stocks

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7. Apple Inc. (NASDAQ:AAPL)  

Bridgewater Associates’ Stake Value as of Q3: $240.4 million

Number of Hedge Fund Holders: 158

Apple Inc. (NASDAQ:AAPL), a globally renowned technology leader, is known for its iconic products like the iPhone, Mac, and Apple Watch, as well as its ecosystem of services, including iCloud and Apple Music.

In its third-quarter earnings, Apple Inc. (NASDAQ:AAPL) reported a record $94.9 billion in revenue, marking a 6% year-over-year increase. CEO Tim Cook attributed this growth to the success of the latest product lineup, including the iPhone 16 series, Apple Watch Series 10, and AirPods 4.

On November 19, Jefferies maintained a Hold rating on Apple Inc. (NASDAQ:AAPL) shares with a price target of $211.84. The firm’s analysis highlighted potential risks to Apple’s gross margins and discounted cash flow (DCF) value due to proposed tariff hikes under a Trump policy scenario. These tariffs could reduce gross margins by 3.0-6.7 percentage points and DCF value by 5-10%, assuming no adjustments in average selling price (ASP) or volume. While Apple Inc. (NASDAQ:AAPL) is working to diversify production outside of China, only 10% of iPhone production has shifted so far. Jefferies focused its analysis on the iPhone, which remains Apple’s largest revenue driver, contributing 52% of total sales.

Madison Sustainable Equity Fund stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q3 2024 investor letter:

“Alphabet Inc., Eli Lilly and Company, Qualcomm Incorporated, Microsoft Corporation, and Apple Inc. (NASDAQ:AAPL) were the largest detractors. Apple has been volatile in the last quarter but ended on strength. Early in the quarter, Apple benefited from the introduction of their AI strategy, Apple Intelligence. They followed in September with the new iPhone 16, which also created some excitement. We are underweight to Apple, which has resulted in a headwind for performance.”

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