Forget Netflix: 5 Better Streaming Stocks to Buy Now

3. Apple Inc. (NASDAQ: AAPL)

Number of Hedge Fund Holders: 127   

Apple Inc. (NASDAQ: AAPL) is ranked third on our list of 10 streaming stocks to buy now. The firm operates from California and operates as a technology firm with stakes in several businesses, including streaming. The Apple TV+ brand of the technology giant was launched in 2019 and has already crossed 40 million users by the end of 2020. The company has a market cap of over $2.4 trillion and posted $274 billion in revenue last year. It recently beat market estimates on earnings for the second quarter. 

On July 28, investment advisory Loop Capital reiterated a Buy rating on Apple Inc. (NASDAQ: AAPL) stock and raised the price target to $165 from $150, highlighting that the firm had delivered a second consecutive quarter of material upside across the board. 

At the end of the first quarter of 2021, 127 hedge funds in the database of Insider Monkey held stakes worth $130 billion in Apple Inc. (NASDAQ: AAPL), down from 146 in the preceding quarter worth $142 billion.

In its Q1 2021 investor letter, Distillate 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 is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.”