5 Best Roth IRA Stocks to Buy According to Reddit

2. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Fund Holders: 127   

Apple Inc. (NASDAQ: AAPL)  is placed second on our list of 10 best Roth IRA stocks to buy according to Reddit. The company’s shares have returned 53% to investors in the past year. It is a technology company that has interests in the making and selling of electronic devices. On July 2, news publication Nikkei Asia reported that Apple was one of the first big technology firms that were testing the new 3-nanometer chip design and could deploy the tech in their devices as soon as next year. 

On July 1, Apple Inc. (NASDAQ: AAPL) allowed marijunana delivery services access to the App Store of the firm, marking a policy shift in this regard for areas where marijunana has been legalised, according to a report in Marijuana Moment.

At the end of the first quarter of 2021, 127 hedge funds in the database of Insider Monkey held stakes worth $130 billion in Apple Inc. (NASDAQ: AAPL), down from 146 in the preceding quarter worth $142 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.”