5 Best Technology Stocks to Buy for Long Term

In this article, we take a look at the 5 best technology stocks to buy for long term. If you want to check out our detailed analysis of the tech industry, go straight to 10 Best Technology Stocks to Buy for Long Term. 

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Apple Inc. (NASDAQ:AAPL) is an American technology company with a market cap of $2.37 trillion, highest in the world. Apple Inc. (NASDAQ:AAPL) develops both software (operating systems) and hardware for its line of smartphones, tablets and computers. 

When it comes to profitability, Apple has a massive return on equity of 149%. The company has an annual dividend yield of 0.63% as of June 6. Its most recent payout was $0.22 per share on February 10, in line with previous payouts. 

Apple was talked about in the Q4, 2021 investor letter by ClearBridge Investments. This is what the letter said:

“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.”

On June 2, Evercore ISI analyst Amit Daryanani reiterated Apple with an ‘Outperform’ rating on the shares with a price target of $210. In the first quarter of 2022, Berkshire Hathaway, managed by famed investor Warren Buffett, was the leading stakeholder in Apple with shares worth $155 billion.

In terms of its future goals, Apple is putting focus towards launching its own search engine in 2023 and is in the research & development phase for the design and production of its own autonomous electric vehicle.