Reddit’s WallStreetBets is Buying These 5 Stocks To Survive Upcoming Recession

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131   

Apple Inc. (NASDAQ:AAPL) is a diversified technology company. The company recently held the Worldwide Developers Conference, an annual event at which it showcases new tech. This year, the firm unveiled updates to iOS 16, the new M2 chip, and the new MacBook Air and MacBook Pro. The company is one of the few growth firms with pricing power and the ability to weather a crisis, since the sales of the firm are unlikely to be majorly hit during a recession. The brand power of the iPhone is a testament to this bullish view. 

On June 3, Morgan Stanley analyst Katy Huberty maintained an Overweight rating on Apple Inc. (NASDAQ:AAPL) stock with a price target of $195, noting that there was a “path for App Store growth to reaccelerate” in the second half of 2022. 

At the end of the first quarter of 2022, 131 hedge funds in the database of Insider Monkey held stakes worth $182 billion in Apple Inc. (NASDAQ:AAPL), compared to 134 in the preceding quarter worth $186 billion.

In its Q4 2021 investor letter, Berkshire Hathaway highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“Apple Inc. (NASDAQ:AAPL) – our runner-up Giant as measured by its year end market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job. It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple Inc. (NASDAQ:AAPL) shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple Inc. (NASDAQ:AAPL) products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.”

You can also take a peek at 10 Best EV Materials Stocks to Buy and 10 Best NFT Stocks to Buy Now.

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