5 Best Nancy Pelosi Stocks to Buy Now

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140     

Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. It is one of the elite stocks in the Nancy Pelosi stock portfolio. Mandatory filings from early June show that Pelosi purchased 100 CALL options on Apple Inc. (NASDAQ:AAPL) stock worth somewhere around $500,000 and $1,000,000 in mid-May 2022. The options have an expiration date of March 2023. 

On October 27, Baird analyst William Power maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target to $170 from $185, noting that the advisory lowered its full-year revenue estimate to reflect the increasing FX impact but overall, it remains encouraged with the strong demand trends across geos despite macro and FX pressures.

At the end of the third quarter of 2022, 140 hedge funds in the database of Insider Monkey held stakes worth $144 billion in Apple Inc. (NASDAQ:AAPL), compared to 128 in the previous quarter worth $143 billion.

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 third 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 the production of apple products, however, the manufacturing facilities have resumed activity.”