Renaissance Technologies Portfolio: Top 10 Stock Picks

4. Apple Inc. (NASDAQ:AAPL)

Stake Value as of Q4 2024: $617,945,975

Apple Inc. (NASDAQ:AAPL) is a leading American technology company known for its consumer electronics, software, and other related products. Its premium line of products, which includes the iPhone, iPad, Mac computers, and a range of other accessories, has earned Apple widespread acclaim and customer loyalty.

On February 19, the company unveiled the iPhone 16e, which will offer artificial intelligence features at a dramatically lower price compared to its standard flagships. Like the other higher-priced iPhones, this new version will be equipped with the latest-generation A18 chip, as Apple Inc. (NASDAQ:AAPL) hopes to bolster demand for its most profitable product lineup through a more affordable option.

Apple Inc. (NASDAQ:AAPL) has also announced plans to expand in Saudi Arabia, beginning with the launch of an online store in the summer of this year, before opening several flagship retail locations across the country, starting in 2026. As part of these efforts, the company is also in the initial stages of planning an iconic retail store in Diriyah, a UNESCO World Heritage site.

While iPhone sales dipped by nearly 1% in the recent quarter (Q1 2025) due to weakness in Greater China, Apple Inc. (NASDAQ:AAPL)’s gross margin reached a record 46.9%. The strong results were driven by a flourishing services business. Total revenue stood at $124.3 billion, up 4% year-over-year, while quarterly diluted EPS grew 10% to $2.40 per share.

After impressive first-quarter results, most analysts maintained their Buy rating for the stock. Investors are also bullish on Apple Inc. (NASDAQ:AAPL). According to Insider Monkey’s database for Q4 2024, 166 hedge funds held a stake in the company, up from 158 at the end of the third quarter.