Top 5 S&P 500 Stocks by Index Weight

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1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Index Weight: 7.466181%

Apple Inc. (NASDAQ:AAPL) is the top S&P 500 stock, with an index weight of 7.46%. On May 4, Apple Inc. (NASDAQ:AAPL) reported a FQ2 GAAP EPS of $1.52 and a revenue of $94.84 billion, outperforming Wall Street estimates by $0.09 and $2 billion, respectively. The board of directors also authorized the repurchase of up to $90 billion of Apple Inc. (NASDAQ:AAPL)’s common stock.

According to Insider Monkey’s first quarter database, 131 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL), compared to 135 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the largest stakeholder of the company, with 915.5 million shares worth nearly $151 billion. 

Silver Ring Value Partners made the following comment about Apple Inc. (NASDAQ:AAPL) in its Q1 2023 investor letter:

“Exited the Apple Inc. (NASDAQ:AAPL) put options position, as I came to the conclusion that I was wrong about the degree to which the stock is overvalued. While I still believe it’s optimistically priced, the fundamentals over the last few years made me believe that my initial decision to buy the put options was wrong.”

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