In this article, we will take a look at the 5 best American stocks to buy now. For a detailed analysis of these companies, go directly to the 15 Best American Stocks To Buy Now.
5. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 146
Total Value of Hedge Fund Holdings: $141.8 Billion
Ranking 5th in our list of the 15 best American stocks to buy now is Apple Inc. (NASDAQ:AAPL). The California-based American multinational technology company produces and markets consumer electronics and computer software. The company first went public in 1980 at a share price of $22. Apple Inc. is one of the best American stocks to buy now that thrived during the pandemic where Apple profited from the rise in demand for work-from-home related devices such as laptops and iPads. In October 2020, the company reported $9 billion in sales on Mac computers. In 2020, the company acquired, Vilynx, an artificial intelligence company, to boost Apple’s use of AI in its applications.
Apple Inc.’s (NASDAQ:AAPL) revenue in the first quarter of 2021 came in at $111.4 billion, up 21% year-over-year. On May 19, Barclays maintained Equal-Weight on Apple and lowered the price target to $134.
There were 146 hedge funds that reported owning stakes in Apple Inc.’s (NASDAQ:AAPL) at the end of the fourth quarter, up from 134 funds a quarter earlier. The total value of these stakes at the end of Q4 is $141.8 billion.
“Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”