5 Most Searched Stocks on Insider Monkey

4. Apple Inc. (NASDAQ:AAPL)

Percentage of Searches: 0.60%

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) was unsurprisingly one of the most looked up stocks on the Insider Monkey platform. A Reuters reported dated September 21 cites JPMorgan analysts, who said that Apple Inc. (NASDAQ:AAPL) might potentially shift a quarter of the iPhone production to India by 2025. The company expects to move 5% of the iPhone 14 production to India by the end of 2022. Earlier in September, a Bloomberg report suggested that the Indian conglomerate Tata Group and the Taiwanese firm Wistron were thinking about creating a joint venture to assemble iPhones in India.

On September 20, Evercore ISI analyst Amit Daryanani raised the price target on Apple Inc. (NASDAQ:AAPL) to $190 from $185 and reaffirmed an Outperform rating on the shares. This came in light of the firm’s survey of approximately 4,000 people about their purchasing decision regarding iPhone 14. The survey indicated that demand for high-end models is “notably higher” compared to previous years, noted the analyst, who boosted his iPhone revenue estimates for the next four quarters on the back of stronger than anticipated average selling prices. 

According to Insider Monkey’s data, 128 hedge funds reported owning stakes worth $143 billion in Apple Inc. (NASDAQ:AAPL) at the end of Q2 2022, compared to 131 funds the prior quarter worth $182 billion. Warren Buffett’s Berkshire Hathaway featured as the largest stakeholder of the company, with roughly 895 million shares valued at $122.3 billion. 

In its Q2 2022 investor letter, Alger 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 Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications. computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact production of apple products, however the manufacturing facilities have resumed activity.”