5 Best Tech Stocks to Buy For The Long Term

In this article, we will look at 5 best tech stocks to buy for the long term. If you want to read about the value of the global technology market and some key trends that are driving the growth of the tech industry, you can go to 10 Best Tech Stocks to Buy For The Long Term.

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

This January, Apple Inc. (NASDAQ:AAPL) released its earnings report for the fiscal first quarter of 2022 in which it outperformed the market. The company reported earnings per share of $2.10, beating estimates by $0.21. Apple Inc. (NASDAQ:AAPL) generated quarterly revenues that amounted to $123.95 billion, up 11.22% year over year, outperforming market consensus by $5.41 billion. As of April 5, 2022, the stock has gained 38.71% over the past twelve months and the company boasts a market capitalization of $2.86 trillion.

On February 15, 2022, Tigress Financial analyst Ivan Feinseth raised his price target on Apple Inc. (NASDAQ:AAPL) to $210 from $198 and reiterated a Strong Buy rating on the shares, in light of the company’s strong first-quarter results for 2022. The analyst sees an upside for the stock backed by strong global demands for its existing products, the nearing of the release of new generation products, and accelerated revenue from services.

Apple Inc. (NASDAQ:AAPL) is a top stock pick among elite hedge funds. At the end of the fourth quarter of 2021, Insider Monkey found 134 hedge funds holding long positions in Apple Inc. (NASDAQ:AAPL), having combined stakes of $186 billion. This is compared to 120 hedge funds in the preceding quarter, having stakes of $146 billion. Warren Buffett’s Berkshire Hathaway owns the most shares of Apple Inc. (NASDAQ:AAPL) as of April 5, 2022. The fund’s stakes in the company amounted to a whopping $157.52 billion, which represents 47.59% of Berkshire Hathaway’s Q4 2021 investment portfolio.

ClearBridge Investments mentioned Apple Inc. (NASDAQ:AAPL) in its fourth-quarter 2021 investor letter. Here’s what the firm had to say:

“Despite these mixed emerging growth results, the ClearBridge Global Growth Strategy outperformed the benchmark due to resilience among our secular and structural growth holdings. The bulk of these contributions came from U.S. mega-cap growth stocks Apple and Microsoft which continued to uniquely act both offensively and defensively as they have through most of the pandemic.”