5 Safe Stocks to Buy For Beginner Investors

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140     

Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories.  It is one of the top safe stocks to buy for beginners. On November 7, Apple said that it is promoting all RED, an organization which raises awareness and funds to fight AIDS, on some versions of the Metropolitan Apple Watch face, ahead of World AIDS Day, which will take place on December 1. Apple is one of the most recognizable brands in the world and is expected to continue to lead the tech space with new investments in VR and metaverse tech in the coming years. 

On November 7, BofA analyst Wamsi Mohan maintained a Neutral rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target to $154 from $160, highlighting that the company issued a press release indicating that COVID-19 restrictions have impacted the primary iPhone assembly facility in China.

At the end of the third quarter of 2022, 140 hedge funds in the database of Insider Monkey held stakes worth $144 billion in Apple Inc. (NASDAQ:AAPL), compared to 128 in the previous quarter worth $143 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 the production of apple products, however, the manufacturing facilities have resumed activity.”