Billionaire Izzy Englander’s Latest Portfolio: Top 5 Stock Picks

04. Apple Inc. (NASDAQ:AAPL)

Millennium Management’s Stake Value: $ 364.843 million

Millennium Management’s 13F Portfolio: 0.22%

Number of Hedge Fund Holders as of Q2 2022: 128

During the second quarter of 2022, Apple Inc. (NASDAQ:AAPL) had EPS valued at $1.2, beating estimates by $0.04, and brought in revenue valued at $82.96 billion, missing estimates by $9.43 million. The company has a gross profit margin of 43.31% and has lost 9.39% year to date. Millennium Management’s stake in Apple Inc. (NASDAQ:AAPL) almost remained the same during Q2, with the fund holding 2.7 million shares, worth roughly $364.843 million.

In its Q2 2022 investor letter, Wedgewood Partners mentioned Apple Inc. (NASDAQ:AAPL) and explained its insights for the company. Here is what the fund said:

“Apple grew revenues +9%, driven by +17% growth in the Services segment. While iPhone revenues grew a modest +5%, it was on an exceptional year ago comparison of +66%. iPhone continues to capture most industry smartphone profits by focusing on high-end price tiers. Apple is taking nearly two-thirds of the revenue share in the premium ($400 and above) smartphone segment. Further, most of the growth was driven by expansion in the “ultra-premium” price tier of $1000 or more per unit.^[1] As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially integrated circuits) and software continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.