5 Best Long-Term Tech Stocks To Buy

3. Apple, Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL) is a leading technology company committed to the design, manufacturing, and promotion of smartphones, personal computers, tablets, wearables, and accessories. Additionally, the company provides a diverse range of related services. The latest iteration of its flagship smartphone, the iPhone 15, was globally launched on September 22 this year. Early sales for the models have exhibited strong performance, and analysts anticipate positive outcomes from the release.

In the third quarter of 2023, Apple Inc. (NASDAQ:AAPL) was included in the portfolios of 134 out of the 910 hedge funds monitored by Insider Monkey. The combined value of Apple Inc. shares held by hedge funds reached an impressive $179 billion. Notably, Berkshire Hathaway, under the leadership of Warren Buffett, emerged as the largest shareholder, holding 915.6 million shares valued at $157 billion.

In its Baron Technology Fund Q3 2023 investor letter, Baron Funds made the following comments about Apple Inc. (NASDAQ:AAPL):

“Despite [the] quarterly fluctuations in product sales, we are encouraged by several long-term trends, including: (1) revenue from higher-margin services like the App Store, iCloud, and Apple Pay, which are growing faster than the overall business, driving better revenue visibility and higher free-cash-flow (FCF) margins; (2) continued gains in global market share in smartphones, wearables, and other hardware categories; and (3) consistent returns of capital to shareholders via share repurchases and dividends. On top of these trends in the core business, Apple is thoughtfully investing in new categories like augmented reality, search, financial services, and streaming media content. We took advantage of weakness in the quarter to add to our position in Apple.”