2. Apple Inc. (NASDAQ:AAPL)
Billionaire Ken Fisher’s Stake: $14.99 billion
Despite all the talk of a lack of an AI strategy and slowing iPhone sales growth, Apple Inc. (NASDAQ:AAPL) stock is becoming a staple and an essential part of major billionaires’ portfolios like Ken Fisher and Warren Buffett. The biggest stamp of approval on Apple’s turnaround came from Buffett, who admitted in a March 2026 interview that he sold a significant portion of his stake “too soon” and would consider buying back “a whole lot” if the price were lower, effectively acknowledging the enduring strength of the business.
Apple Inc. (NASDAQ:AAPL) has 2.5 billion active devices globally, giving it a sticky ecosystem that acts as an automated recurring revenue machine. This massive installed base allows Apple to monetize users through high-margin subscriptions regardless of individual hardware upgrade cycles.
Apple Inc’s (NASDAQ:AAPL) transition toward a high-margin, recurring service business is also going as planned. The business now accounts for roughly 21% of Apple’s overall revenue and has become a $100 billion a year business.
With over $200 billion in cash and a long history of consecutive dividend growth, Apple Inc. (NASDAQ:AAPL) can make strategic moves to maintain market dominance while also expanding into other high-margin businesses like services, wearables, and emerging tech.
RiverPark Large Growth Fund stated the following regarding Apple Inc. (NASDAQ:AAPL) in its fourth quarter 2025 investor letter:
“Apple Inc. (NASDAQ:AAPL): AAPL shares rose in 4Q25 following better-than-feared iPhone 17 sell-through trends and stronger Services momentum. The company reported that early adoption of its on-device AI features exceeded internal expectations, particularly in North America and Europe, where attach rates for Pro models remained elevated. Wearables also returned to growth, helped by new health features and improved battery life. While macro softness in China remained a headwind, investors responded positively to evidence of content and advertising revenue re-acceleration within the Services segment, which delivered double-digit growth.
We continue to view Apple as one of the world’s most resilient and profitable businesses, supported by a massive installed base, ecosystem lock-in, and growing high-margin revenue streams. As Apple Intelligence features proliferate across devices, we expect multi-year upgrades, improved monetization, and expanded recurring revenue. With strong cash generation, ongoing share repurchases, and disciplined capital allocation, Apple remains a compelling long term investment.”
