5 Best Tech Stocks For Long Term Investment

3. Apple, Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL) is a prominent technology company dedicated to the design, manufacturing, and marketing of smartphones, personal computers, tablets, wearables, and accessories. Additionally, the company offers a diverse range of related services. The most recent iteration of its flagship smartphone, the iPhone 15, was globally launched on September 22 this year. Early sales for the models have demonstrated robust performance, and analysts anticipate positive outcomes from the release.

In the third quarter of 2023, Apple Inc. (NASDAQ:AAPL) was part of the portfolios of 134 out of the 910 hedge funds monitored by Insider Monkey. The aggregate value of Apple Inc. shares held by hedge funds reached an impressive $179 billion. Notably, Berkshire Hathaway, led by Warren Buffett, emerged as the largest shareholder, possessing 915.6 million shares valued at $157 billion.

In its Baron Technology Fund Q3 2023 investor letter, Baron Funds made the following comments about Apple Inc. (NASDAQ:AAPL):

“Despite [the] quarterly fluctuations in product sales, we are encouraged by several long-term trends, including: (1) revenue from higher-margin services like the App Store, iCloud, and Apple Pay, which are growing faster than the overall business, driving better revenue visibility and higher free-cash-flow (FCF) margins; (2) continued gains in global market share in smartphones, wearables, and other hardware categories; and (3) consistent returns of capital to shareholders via share repurchases and dividends. On top of these trends in the core business, Apple is thoughtfully investing in new categories like augmented reality, search, financial services, and streaming media content. We took advantage of weakness in the quarter to add to our position in Apple.”