5 Best Tech Stocks to Buy Now According to Joe Dimenna’s Zweig-DiMenna Partners

4. Apple Inc. (NASDAQ:AAPL)

Zweig-DiMenna Partners’ Stake Value: $17,082,000
Zweig-DiMenna Partners’ 13F Portfolio: 2.27%
Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL) is a global technology firm based in the United States, specializing in consumer goods, software, and online services. In the first quarter of 2022, Zweig-DiMenna Partners held 97,827 shares of Apple Inc. (NASDAQ:AAPL). These were worth $17.08 million and accounted for 2.27% of its portfolio.

On May 2, Rosenblatt analyst Barton Crockett slashed his price target on Apple Inc. (NASDAQ:AAPL) to $168 from $184 and maintained a Neutral rating on the shares. Crockett stated that the company’s March quarter report was encouraging but tempered by estimates of larger supply interruptions in the June quarter.

Insider Monkey’s data showed that hedge fund interest increased in Apple Inc. (NASDAQ:AAPL) in Q4. 134 hedge funds tracked by Insider Monkey held long positions in Apple Inc. (NASDAQ:AAPL) in Q4, up from 120 in the previous quarter. These funds hold a consolidated stake of about $186 billion, showing considerable growth from $146 billion in the preceding quarter.

Here is what Berkshire Hathaway has to say about Apple Inc. (NASDAQ:AAPL) in its Q4 2021 investor letter:

“Apple Inc. (NASDAQ:AAPL) – our runner-up Giant as measured by its year end market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job. It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.”