5 Most Profitable Stocks of the Last 20 Years

1. Apple Inc. (NASDAQ:AAPL)

Average Net Income: $34.69 billion

Number of Hedge Fund Holders: 135

Apple Inc. (NASDAQ:AAPL) stock was owned by 135 hedge funds at the end of Q4 2022. The total stakes of these hedge funds amounted to $136.3 billion in the company. As of December 31, Berkshire Hathaway is the leading investor in the company and has a position worth $116.30 billion.

For fiscal 2022, Apple Inc. (NASDAQ:AAPL) reported record profits and generated an annual net income of $99.80 billion. The company’s 20-year average annual net income sits at $34.69 billion and makes it the most profitable stock of the last 20 years.

Here is what Distillate Capital had to say about Apple Inc. (NASDAQ:AAPL) in its third-quarter 2022 investor letter:

“The largest new purchase was Apple Inc. (NASDAQ:AAPL), which after underperforming saw its valuation improve significantly. Over the course of the last year, Apple’s consensus estimated forward free cash flows rose modestly, while its enterprise value fell by around 30%. Apple ranks below the 25th most attractive name in the portfolio and so its weight is capped at 4% vs. 6% for names in the top quartile.”

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