5 Best Inflation Stocks to Buy According to Hedge Funds

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1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128     

Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories. It is one of the elite inflation stocks to invest in. Apple Inc. (NASDAQ:AAPL) has created a car crashing detection feature in its iPhone 14 pro. The Wall Street Journal reports that the iPhone’s new feature was triggered and automatically dialed 911 after the phone’s owner rode a roller coaster at an amusement park outside Cincinnati. 

On September 29, UBS analyst David Vogt kept a Buy rating and a $185 price target on Apple Inc. (NASDAQ:AAPL) stock, stating that in spite of the industry softness, the wait times for the high-end iPhone models remain elevated. 

At the end of the second quarter of 2022, 128 hedge funds in the database of Insider Monkey held stakes worth $143 million in Apple Inc. (NASDAQ:AAPL), compared to 131 in the previous quarter worth $182 million.

In its Q2 2022 investor letter, Alger 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 Inc.(NASDAQ:AAPL) is a leading technology provider in telecommunications. computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact production of apple products, however the manufacturing facilities have resumed activity.”

You can also take a peek at 10 Best Stocks to Buy According to Angela Aldrich’s Bayberry Capital Partners and Top 10 Tech Stocks to Buy According to Billionaire Louis Bacon.

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