5 Best Magic Formula Stocks to Buy Now

3. Apple Inc. (NASDAQ:AAPL)

Joel Greenblatt’s Stake Value: $50.5 million

Joel Greenblatt’s hedge fund has a $50.5 million stake in Apple Inc. (NASDAQ:AAPL) as of the end of the first quarter of 2023. Consumers around the world continue to favor Apple Inc. (NASDAQ:AAPL)’s iPhone product line, defying analyst expectations of a slowdown in iPhone sales. Last month, the 6.18 sales event in China saw a slow response from customers, but Apple Inc. (NASDAQ:AAPL) beat all expectations with an 8% YoY jump in sales amid lack of competition, according to Counterpoint Research.

As of the end of the first quarter of 2023, 131 hedge funds tracked by Insider Monkey had stakes in Apple Inc. (NASDAQ:AAPL). The biggest stakeholder of Apple Inc. (NASDAQ:AAPL) during this period was Warren Buffett’s Berkshire Hathaway which had a $151 billion stake in the company.