5 Best Engineering Stocks to Buy Now

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 135

Apple Inc. (NASDAQ:AAPL) is one of the largest tech companies in the world and its success is majorly dependent on its engineers that work on the products’ hardware (acoustic, camera, architecture, display, AI, etc.), software (apps, cloud, iOS, etc.), and services.

On May 2, Baird raised the price target on Apple Inc. (NASDAQ:AAPL)’s stock to $180 from $170 while maintaining an Outperform rating on the shares. The rating is given because the firm believes that the company will perform strongly in the coming months and would have a solid cash flow.

According to the Insider Monkey database, in the fourth quarter of 2022, 135 hedge funds had a stake in Apple Inc. (NASDAQ:AAPL) worth $136 billion. Warren Buffett’s Berkshire Hathaway was the most significant stakeholder and held 895 million shares, making up 38.89% of the fund’s portfolio.

Apple Inc. (NASDAQ:AAPL) was mentioned in Polen Capital’s first-quarter 2023 investor letter. Here is what it said:

“Not owning Apple Inc. (NASDAQ:AAPL) and NVIDIA detracted from our relative performance. With respect to Apple, we have not felt that the combination of growth available and the valuation made for one of our best ideas. Concerning NVIDIA, while there seems to be strong demand for data center chips, the valuation and lack of clarity around pace and magnitude of that growth has kept us at bay to date.”