5 Best Reddit Stocks To Invest In

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) is a California-based diversified technology company involved in making consumer electronics goods and services.

The Reddit community considers the company’s strong cash position as the strength of Apple Inc.’s (NASDAQ:AAPL) stock. The stellar cash position allows the company to maintain healthy share buyback from the open market, which keeps a strong price floor on the shares. Apple Inc. (NASDAQ:AAPL) finished Q3 2022 with a cash balance of over $275 billion.

Investors also have a bullish outlook on the range of products that are expected to be launched later this month and in October. Apple Inc. (NASDAQ:AAPL) also has the distinction of having Warren Buffett’s Berkshire Hathaway as the biggest hedge fund holder of the stock, with a stake of over $122 billion at the current market price.

Here’s what Wedgewood Partners said about Apple Inc. (NASDAQ:AAPL) in its Q2 2022 investor letter:

“Apple grew revenues +9%, driven by +17% growth in the Services segment. While iPhone revenues grew a modest +5%, it was on an exceptional year ago comparison of +66%. iPhone continues to capture most industry smartphone profits by focusing on high-end price tiers. Apple is taking nearly two-thirds of the revenue share in the premium ($400 and above) smartphone segment. Further, most of the growth was driven by expansion in the “ultra-premium” price tier of $1000 or more per unit.^[1] As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially integrated circuits) and software continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.