30 Stocks That Should Double in 3 Years

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6. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 166

Apple Inc. (NASDAQ:AAPL) designs and sells consumer electronics, software, and services. It’s known for its line of iPhones, iPads, Macs, Apple Watches, and AirPods. The company has a vertically integrated model and a vast network of financially potent users that have potential for upselling and cross-selling opportunities, such as the App Store, iCloud, Apple Music, and Apple TV+ services.

Erik Woodring from Morgan Stanley lowered his iPhone shipment estimates for 2025-2026 by 1% to 5% because of delayed releases at the company. Since June 2024, many features planned for release in April with iOS 18.4 in 2025 have been postponed. The company now aims to fix these issues by 2026. On April 22, Morgan Stanley reiterated the stock as Overweight with a $220 price target. The firm said its survey checks screen positive for Apple regardless of a rough backdrop.

Apple Inc. (NASDAQ:AAPL) is best known for its iPhone product cycle, with 52% of its revenue coming from this product line. The company has over 2.2 billion devices on sale, and the next target is now to integrate AI to strengthen these service offerings. The company’s AI strategy, mainly Apple Intelligence, is driving customer interest, with expectations high for the yet-to-launch iPhone 17 series.

Columbia Seligman Global Technology Fund maintained its position in the company and stated the following regarding Apple Inc. (NASDAQ:AAPL) in its Q4 2024 investor letter:

“The fund maintained a position in Apple Inc. (NASDAQ:AAPL) throughout the quarter through the release of the company’s new iPhone 16 in September. Company leaders were excited about the release of the new model, as this is the first model that will feature enhanced AI capabilities through the Apple Intelligence features. Sales for the first few weeks in October and November trailed behind year over year sales from the iPhone 15, as availability of Apple Intelligence was not compatible with all iPhone models. Apple announced a partnership with OpenAI that has allowed the integration of ChatGPT into the Apple ecosystem, separate from the core Apple Intelligence features. This partnership highlights continued progress from Apple to introduce AI capabilities into its products and we expect the iPhone 17 to have even more expansive AI capabilities, increasing potential demand for the new model that is on track to be released in 2025.”

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