5 Best Roth IRA Stocks To Buy According To Hedge Funds

In this article, we discuss the 5 best Roth IRA stocks to buy according to hedge funds. If you want to see more stocks in this selection, go directly to the 10 Best Roth IRA Stocks To Buy According To Hedge Funds.

5. Apple, Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140

Apple, Inc. (NASDAQ:AAPL) is a Cupertino, California-based tech giant. The company is also spearheading the field of digital streaming and mobile payment services through its offerings.

Given the tension between the US and China, Apple, Inc. (NASDAQ:AAPL) is now reducing its reliance on components manufactured in Asia. According to a report published by Bloomberg on November 15, Apple, Inc. (NASDAQ:AAPL) is preparing itself to source chips from its facility in Arizona. CEO Tim Cook shared this update during his recent visit to Europe, where he met the engineering and retail workers.

On November 14, Samik Chatterjee at JPMorgan highlighted how iPhone 14’s demand is expected to outstrip supply during the coming quarters. The analyst thinks the company’s short-term supply challenges provide investors with an attractive opportunity to go long on one of the stock.

Here’s what Wedgewood Partners said about Apple, Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter:

“Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as 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.”