Reddit’s WallStreetBets is Buying These 5 Stocks in September

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

Redditors are bullish on Apple Inc. (NASDAQ:AAPL) ahead of the company’s launch of the new iPhone 14 series on September 16. The WallStreetBets community is buying Apple Inc. (NASDAQ:AAPL) in September and expects the stock to “go to the moon”. Other than that, Apple Inc. (NASDAQ:AAPL) is one of the stocks to “HODL”, or hold on for dear life, according to Redditors of WallStreetBets.

Wall Street analysts are also bullish on Apple Inc. (NASDAQ:AAPL) ahead of the company’s new product launch. On September 8, Wedbush analyst Daniel Ives reiterated a buy-side Outperform rating and his price target of $220 on the stock. This September, Oppenheimer analyst Martin Yang maintained his $190 price target on Apple Inc. (NASDAQ:AAPL) and reiterated an Outperform rating on the shares. On September 8, Morgan Stanley analyst Erik Woodring raised his fiscal 2023 revenue and EPS estimates by 1% and reiterated a buy-side Overweight rating and his $180 price target on Apple Inc. (NASDAQ:AAPL).

At the end of Q2 2022, 128 hedge funds were long Apple Inc. (NASDAQ:AAPL) with stakes worth $143 billion. Of those, Berkshire Hathaway was the most prominent shareholder in the company with stakes worth $122.3 billion. The investment covers 40.7% of Warren Buffett’s 13F portfolio.

Here is what Alger Capital had to say about Apple Inc. (NASDAQ:AAPL) in its second-quarter 2022 investor letter:

“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 production of apple products, however the manufacturing facilities have resumed activity.”

You can also take a look at 10 Best Penny Stocks Popular on Reddit and 10 New Reddit WallStreetBets Stocks On the Rise.

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