5 Smart Home Technology Stocks To Buy Today

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL)’s primary contribution to smart home technology is HomeKit, which enables users to control smart home appliances using Apple devices. Via a communication protocol, HomeKit allows for the integration and operation of multiple smart home accessories. 

On January 27, Apple Inc. (NASDAQ:AAPL)’s Q4 results were published, with the company posting earnings per share of $2.10, beating estimates by $0.21. The $123.95 billion revenue also outperformed consensus estimates by $5.41 billion. 

Apple Inc. (NASDAQ:AAPL) declared on January 27 a $0.22 per share quarterly dividend, in line with previous. The dividend was distributed on February 10, to shareholders of record on February 7. 

Tigress Financial analyst Ivan Feinseth raised the price target on Apple Inc. (NASDAQ:AAPL) on February 15 to $210 from $198 and reiterated a Strong Buy rating on the shares following the company’s reported “record” Q1 results. The analyst believes further upside in the shares exists due to strong product demand, new product introductions, and accelerating services revenue, observing that his target represents a potential return of close to 25% from current levels.

Berkshire Hathaway held the leading Apple Inc. (NASDAQ:AAPL) stake in Q4 2021, with more than 887 million shares worth $157.5 million. Overall, hedge fund sentiment increased around Apple Inc. (NASDAQ:AAPL) in the fourth quarter, as 134 funds held long positions in the company, up from 120 funds a quarter earlier. 

Here is what Alger Spectra Fund has to say about Apple Inc. (NASDAQ:AAPL) in its Q4 2021 investor letter:

“Apple 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 tight engagement with consumers and enterprises, fostering the growing purchases of high-margin services like music, apps and Apple Pay. Apple’s quarterly earnings exceeded street estimates on strong margin realization driven by a sales mix of more profitable services. The margin strength was even more impressive given significantly higher freight costs and supply constraints that prevented approximately $6 billion in revenue realization.”