5 Best Blue Chip Stocks With Strong Balance Sheets

In this article, we discuss 5 of the best blue chip stocks with strong balance sheets. If you want to see more of the best blue chip stocks with strong balance sheets, the risk/reward and methodology of this list, go directly to 10 Best Blue Chip Stocks With Strong Balance Sheets.

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

As it is with premium smartphones, Apple Inc. (NASDAQ:AAPL) is the leader when it comes to fortress balance sheets. Given it is the most profitable tech company in the world, Apple Inc. (NASDAQ:AAPL) has substantial earnings power. For the twelve months ended September 24, 2022, Apple Inc. (NASDAQ:AAPL) earned net income of $99.8 billion, up from around $94.68 billion in the prior year. With its substantial earnings, strong business, and competitive advantages, Apple Inc. (NASDAQ:AAPL) has the highest long term credit rating possible according to Moody’s at ‘Aaa’.

Wedgewood Partners commented on Apple Inc. (NASDAQ:AAPL) in a Q3 2022 investor letter,

Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as 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.