In this article, we discuss the top 5 stocks of the Obama stock portfolio. If you want to read about some more stocks in the Obama stock portfolio, go directly to Obama Stock Portfolio: 10-Year Returns.
5. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 140
Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. It is one of the best stocks in the Vanguard index in which Obama had stakes in during his time in the office. On November 3, Apple disclosed that it will continue to source modem chips from Qualcomm, a semiconductor and software creator, for the 2023 iPhone 15 lineup. Qualcomm will provide the vast majority of modem chips for Apple devices.
On October 27, Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target to $200 from $220, noting that the company delivered a mixed September quarter that featured top and bottom line beats despite 600+ basis points of FX headwinds.
At the end of the third quarter of 2022, 128 hedge funds in the database of Insider Monkey held stakes worth $144 billion in Apple Inc. (NASDAQ:AAPL), compared to 128 in the previous quarter worth $183 billion.
In its Q2 2022 investor letter, Alger Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:
“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications. computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact the production of apple products, however, the manufacturing facilities have resumed activity.”
4. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) provides various products and platforms such as Google Services, Google Cloud etc. It is one of the top stocks in the Vanguard index in which Obama had stakes in during his time in the office. On November 3, Google, a subsidiary of Alphabet, noted that it wants to compete to dominate the internet’s next battleground by developing artificial intelligence using the world’s one thousand most spoken languages.
On October 26, Evercore ISI analyst Mark Mahaney maintained an Outperform rating on Alphabet Inc. (NASDAQ:GOOG) stock and lowered the price target to $130 from $140, noting that Q3 results of the firm missed the Street estimates across the board by a wider margin than seen in some time.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 52.4 million shares worth more than $5 billion.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:
“Alphabet Inc. (NASDAQ:GOOG) is the parent company of Google, the world’s largest search and online advertising company. Shares of Alphabet declined 21.6% in the quarter due to concerns about slower global growth impacting the company’s core advertising business. We retain conviction in Alphabet’s merits as it continues to benefit from growth in mobile and online video advertising, which accrues to its core assets of search, YouTube, and the Google ad network. We are further encouraged by Alphabet’s investments in Cloud, AI, and Autonomous Driving (through its Waymo subsidiary).”
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 177
Meta Platforms Inc. (NASDAQ:META) develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It is one of the elite stocks in the Vanguard 500 Index Fund Investor Shares (NASDAQ:VFINX) in which Obama had stakes in during his time in the office. On October 26, Meta Platforms posted earnings for the third quarter of 2022, reporting earnings per share of $1.64, missing market estimates by $0.22. The revenue over the period was $27.72 billion, down 4.5% compared to the revenue over the same period last year and beating market estimates by $310 million.
On November 2, Tigress Financial analyst Ivan Feinseth maintained a Strong Buy rating on Meta Platforms, Inc. (NASDAQ:META) stock and lowered the price target to $260 from $466, noting that the recent pullback in price was a major buying opportunity as total daily and monthly active users continue to grow, and the Metaverse will emerge as a long-term growth driver.
At the end of the third quarter of 2022, 177 hedge funds in the database of Insider Monkey held stakes worth $14 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 185 in the preceding quarter worth $18.2 billion.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:
“Shares of Meta Platforms, Inc. (NASDAQ:META), the owner of Facebook, the world’s largest social network, fell 28.4% during the second quarter due to quarterly results that missed consensus estimates, driven by the impact of Apple’s new privacy changes in its iOS operating system. These changes have made it harder for Facebook to measure the effectiveness of its advertising across its mobile apps.
In the longer term, we expect Facebook to continue utilizing its leadership in mobile to provide global advertisers targeted marketing capabilities at scale, with substantial monetization optionality ahead in newer areas such as Reels (Meta’s competing solution to TikTok) and e-commerce.”
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 269
Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products and subscriptions in North America and internationally. It is one of the premier stocks in the Vanguard index in which Obama had stakes in during his time in the office. On November 2, Snapchat revealed that it has partnered up with Amazon for its augmented reality-powered Virtual Try-On shopping experience. Amazon will offer Snapchat users the ability to digitally try on eyewear styles from a range of popular brands.
On November 2, Tigress Financial analyst Ivan Feinseth maintained a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) stock and lowered the price target to $192 from $232, noting that the new price target reflects a re-rating of valuation and growth rate adjustments.
At the end of the third quarter of 2022, 269 hedge funds in the database of Insider Monkey held stakes worth $34.6 billion in Amazon.com, Inc. (NASDAQ:AMZN), compared to 252 in the preceding quarter worth $30 billion.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:
“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services, provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from the overcapacity of resources coming out of COVID. We expect Amazon to grow its retail capacity in the quarters to come, which would enable it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth (…read more)
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 269
Microsoft Corporation (NASDAQ:MSFT) develops, licenses, and supports software, services, devices, and solutions worldwide. It is one of the major stocks in the Vanguard index in which Obama had stakes in during his time in the office. On November 2, Microsoft funded Wemade, a South Korean popular video game developer, which has made aggressive bets on blockchain in recent years.
On October 26, RBC Capital analyst Rishi Jaluria maintained an Outperform rating on Microsoft Corporation (NASDAQ:MSFT) stock and lowered the price target to $310 from $380, highlighting that the company’s Q1 results were decent, but its guidance was rough.
At the end of the third quarter of 2022, 269 hedge funds in the database of Insider Monkey held stakes worth $61.2 billion in Microsoft Corporation (NASDAQ:MSFT), compared to 258 in the previous quarter worth $56 billion.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:
“Shares of Microsoft Corporation (NASDAQ:MSFT), a leading global provider of software solutions, declined 16.6% in the quarter along with the broader software group as well as due to growing concerns of a potential macro-driven slowdown. This is despite the company posting strong quarterly financial results and successfully absorbing headwinds from the war in Ukraine. The company had 21% revenue growth, 23% operating income growth, and 35% growth in Microsoft Cloud (all year-over-year in constant currency), which now represents 47% of total revenues. (read more…)
You can also take a peek at Was Rajiv Jain’s GQG Partners Right About These 10 Tech Stocks? and 12 Best Artificial Intelligence Stocks To Invest In Right Now.
