5 Best Upside Stocks to Buy Right Now

4. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Fund Holders: 127   

Apple Inc. (NASDAQ: AAPL) is a California-based technology firm. It is placed fourth on our list of 10 best upside stocks to buy right now. The company’s shares have offered investors returns exceeding 43% over the past twelve months. Apple makes and sells consumer electronics, software, and online services. It is the largest technology company in the world in terms of market capitalization. It posted more than 270 billion in annual revenue last year. The company is reportedly also investing heavily in driverless and clean energy automotive.

Apple Inc. (NASDAQ: AAPL) posted earnings results for the second fiscal quarter on April 28, reporting earnings per share of $1.40, beating market predictions by $0.42. The revenue over the period was close to $90 billion, up 53% year-on-year. 

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.”