Warren Buffett Loaded Up on These 5 Stocks for the Rest of 2022

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Warren Buffett added Apple Inc. (NASDAQ:AAPL) to the Berkshire portfolio in Q1 2016. The billionaire has consistently held on to this position, and in the second quarter of 2022, he lifted his Apple Inc. (NASDAQ:AAPL) stake by 1%. Berkshire Hathaway owned 894.80 million shares of the company in Q2 2022, worth $122.3 billion, representing 40.76% of the total 13F portfolio. 

Credit Suisse analyst Shannon Cross on August 16 upgraded Apple Inc. (NASDAQ:AAPL) to Outperform from Neutral with a $201 price target. Apple Inc. (NASDAQ:AAPL)’s installed base of more than 1.8 billion devices increases market adoption of the company’s services and software solutions, creates loyal customer relationships with higher wallet share, and gives notable competitive advantages, the analyst told investors. Apple Inc. (NASDAQ:AAPL)’s sizable cash balance allows the company “ample dry powder” for organic investments, shareholder returns, and continued mergers and acquisitions, the analyst added.

Among the hedge funds tracked by Insider Monkey, Ken Fisher’s Fisher Asset Management featured as a significant stakeholder of Apple Inc. (NASDAQ:AAPL), with roughly 64 million shares worth more than $11 billion. Overall, 131 hedge funds were bullish on the stock at the conclusion of the first quarter of 2022.

Here is what Wedgewood Partners has to say about Apple Inc. (NASDAQ:AAPL) in its Q2 2022 investor letter:

“Apple grew revenues +9%, driven by +17% growth in the Services segment. While iPhone revenues grew a modest +5%, it was on an exceptional year ago comparison of +66%. iPhone continues to capture most industry smartphone profits by focusing on high-end price tiers. Apple is taking nearly two-thirds of the revenue share in the premium ($400 and above) smartphone segment. Further, most of the growth was driven by expansion in the “ultra-premium” price tier of $1000 or more per unit.[1] As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially integrated circuits) and software continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.”