5 Dow Jones Stocks to Buy According to Hedge Funds

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) is a leading technology company focused on the designing, manufacturing, and marketing of smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services.

Major products of Apple Inc. (NASDAQ:AAPL) include the iPhone, Mac PCs, iPad, and accessories while service offerings include Apple Care, Cloud Services, Digital Content and Payment services. iPhone sales accounted for more than half of its revenue in the last fiscal year. The company announced the launch of iPhone 14 in the first week of September which could result in a surge in the company’s revenue.

In July, Apple Inc. (NASDAQ:AAPL) released its financial results for the quarter ended June 25, 2022. Its net sales increased by 2% y-o-y to $83 billion, while its net income declined by 11% y-o-y to $19.4 billion, for the three months. It reported a normalized EPS of $1.20 for the quarter, beating the consensus by $0.05. Apple Inc. (NASDAQ:AAPL) declared a regular cash dividend of $0.23 per share for the quarter.

Apple Inc. (NASDAQ:AAPL) is among the favorites of hedge funds, with 128 of the 895 hedge funds tracked by Insider Monkey holding its shares valued at a whopping $143 billion. Warren Buffet’s Berkshire Hathaway is its biggest shareholder with ownership of 894.8 million shares valued at $122.3 billion.