Ken Fisher Stock Portfolio: Top 5 Stock Picks

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

Fisher Asset Management’s Stake Value: $8,178,151,000

Apple Inc. (NASDAQ:AAPL) is the largest holding in the Ken Fisher stock portfolio. Fisher Asset Management owns more than 59 million shares of Apple Inc. (NASDAQ:AAPL) worth over $8 billion as of Q3 2022, representing 6.13% of the total 13F securities. 

On November 14, JPMorgan analyst Samik Chatterjee said that the impact of supply chain constraints faced by Apple Inc. (NASDAQ:AAPL) at its assembly facility in China is difficult to quantify. However, he trimmed his iPhone shipment target for the December quarter to 74 million from 82 million, and now forecasts fiscal Q1 iPhone and total revenues to plummet year-over-year. The analyst believes the “limited impact on demand” for the iPhone 14 product cycle through fiscal 2023 and the chance to address the shortage in the March quarter “might give long-term investors several attractive buying opportunities into the shares through to the year-end.” The analyst reiterated an Overweight rating on Apple Inc. (NASDAQ:AAPL) with a $200 price target.

According to Insider Monkey’s data, 128 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL) at the end of the second quarter of 2022, compared to 131 funds in the prior quarter. 

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.”

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