15 AI Stocks Surging on News and Analyst Ratings

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4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 166

Apple Inc. (NASDAQ:AAPL) is a technology company known for its consumer electronics, like the iPhones and MacBooks. On May 19, Morgan Stanley reiterated the stock as “Overweight,” maintaining a price target of $235. The firm stated that Apple remains under-owned.

Despite a modest narrowing in under-ownership across the sector, “AAPL remains the most under-owned mega cap tech stock we track.”

They further noted that the gap between the company’s institutional ownership and its S&P 500 weighting is said to have narrowed by 17 basis points in the first quarter to -2.06%. Moreover, Apple’s active institutional portfolio weighting fell to 4.86%. Meanwhile, its S&P 500 weighting declined more steeply to 6.9%.

“New form factors for the iPhone in the coming years should lead to meaningful upgrades… and replacement cycles that have never been as extended.”

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