5 Best Bear Market Stocks to Buy Now

1. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Fund Holders: 127   

Apple Inc. (NASDAQ: AAPL) is ranked first on our list of 12 best bear market stocks to buy now. The company’s shares have offered investors returns exceeding 57% over the course of the past twelve months. The company is based in California and has interests in a variety of tech-related business, including the production and sale of electronics. On July 27, the firm posted earnings for the third quarter, reporting earnings per share of $1.30, beating estimates by $0.29. The revenue over the period was more than $81 billion, up 36% year-on-year. 

On July 26, investment advisory Baird maintained an Outperform rating on Apple Inc. (NASDAQ: AAPL) stock with a price target of $160, noting that the firm had room to grow as 5G service expanded across the globe. 

At the end of the first quarter of 2021, 127 hedge funds in the database of Insider Monkey held stakes worth $130 billion in Apple Inc. (NASDAQ: AAPL), down from 146 in the preceding quarter worth $142 billion.

In its Q1 2021 investor letter, Distillate Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ: AAPL) was one of them. Here is what the fund said:

“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.”

You can also take a peek at 12 Best Environmental Stocks to Invest In and 10 Best Nickel Stocks to Buy Now.

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