Ken Fisher’s Top 5 Growth Stock Picks

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1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140

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

Percentage of Fisher Asset Management’s Portfolio: 6.13%

Apple Inc. (NASDAQ:AAPL) is a California-based diversified technology company.

In an update issued on December 22, Laura Martins at Needham highlighted that Apple Inc. (NASDAQ:AAPL) would be able to benefit from a new revenue stream in the form of an advertisement-based version of Apple TV+. The analyst thinks that the premium streaming platform has the best-in-class demographics along with a gross profit margin of over 70%. Furthermore, despite the uncertain macroeconomic environment, the demand for Apple products and services is expected to remain strong in FY23 as well due to its strong brand equity. Ms. Martins has assigned Apple Inc. (NASDAQ:AAPL) stock a target price of $170 and a Buy rating.

Here’s what Wedgewood Partners 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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