Ken Fisher Loves These 5 Defensive Stocks

1. Apple Inc. (NASDAQ:AAPL)

Fisher Asset Management’s Stake Value: $11.166 billion

Percentage of Fisher Asset Management’s Portfolio: 6.58%

Number of Hedge Fund Holders: 131

With a market capitalization of more than $2 trillion, Apple Inc. (NASDAQ:AAPL) is the second most valuable company in the world. With a 5-year monthly beta of 1.20, the company might seem volatile, but Apple Inc. (NASDAQ:AAPL) shows the characteristics of a defensive stock. It is primarily due to the company’s continuous profits and dividend returns. Moreover, the company can make share repurchases at will due to a strong cash position. It is the top stock in Fisher Asset Management’s portfolio, with nearly 63.95 million shares of the company worth $11.166 billion. The stock makes up 6.58% of the fund’s portfolio.

According to Apple Inc. (NASDAQ:AAPL)’s Q1 2022 earning reports, the company outmatched its EPS and revenue estimates by 6.18% and 3.50%, respectively. Apple Inc. (NASDAQ:AAPL) reported an EPS of $1.52, compared to the $1.43 consensus. The revenue estimates were beaten by $3.29 billion after generating $97.28 billion. In addition to that, the company’s gaming and music segment is gaining popularity. According to JP Morgan, the revenue from the sector is likely to rise by 36% to $8.2 billion by 2025.

Here is what ClearBridge Investments had to say about Apple Inc. (NASDAQ:AAPL) in its fourth-quarter 2021 investor letter:

“Despite these mixed emerging growth results, the ClearBridge Global Growth Strategy outperformed the benchmark due to resilience among our secular and structural growth holdings. The bulk of these contributions came from U.S. mega-cap growth stocks Apple and Microsoft, which continued to uniquely act both offensively and defensively as they have through most of the pandemic.”

You can also take a look at 10 Stocks to Buy Now According to Steve Ketchum’s Sound Point Capital and 10 Stocks to Buy in April According to Jim Cramer.

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