5 Best Robinhood Stocks To Buy According To Hedge Funds

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 138  

Apple Inc. (NASDAQ:AAPL) is ranked second on our list of 11 best Robinhood stocks to buy according to hedge funds. The firm enjoys top status on both Robinhood and among hedge funds. In addition to being one of the most popular smartphone manufacturers in the world, the company has recently also seen a rise in PC sales, even as overall PC sales slow, according to a new report from market research firm Canalys. The stock was recently named among a list of high conviction picks by investment advisory UBS. 

Apple Inc. (NASDAQ:AAPL) has crossed $2.3 trillion in market capitalization. In late September, a report in the South China Morning Post claimed that the firm had received more than 5 million pre-orders for the new iPhone model from China, quashing rumors about a slowdown in sales of the product in Asia. 

At the end of the second quarter of 2021, 138 hedge funds in the database of Insider Monkey held stakes worth $145 billion in Apple Inc. (NASDAQ:AAPL), up from 127 in the preceding quarter worth $131 billion.

In its Q1 2021 investor letter, Distillate 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 is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”