5 Most Promising QQQ Stocks According to Hedge Funds

In this article, we will look at the 5 most promising QQQ stocks according to hedge funds. If you want to explore similar stocks, you can go to 15 Most Promising QQQ Stocks According to Hedge Funds.

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 135

On February 2, Apple Inc. (NASDAQ:AAPL) reported earnings for the first quarter of fiscal 2023. The company reported an EPS of $1.88 and generated a revenue of $117.15 billion. On February 14, KeyBanc analyst Brandon Nispel maintained his $177 price target and an Overweight rating on Apple Inc. (NASDAQ:AAPL).

At the end of Q4 2022, 135 hedge funds were eager on Apple Inc. (NASDAQ:AAPL) and disclosed positions worth $136.3 billion in the company. Of those, Berkshire Hathaway was the top shareholder in the company and held a position worth $116 billion. Apple Inc. (NASDAQ:AAPL) is one of the most promising QQQ stocks according to hedge funds.

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.”