Jim Cramer and Billionaire David Tepper Like Apple Inc. (AAPL) and More

Both the trust and the hedge fund also owned JPMorgan Chase & Co. (NYSE:JPM). The large bank looks like yet another good value stock as it trades at a discount to book value (P/B ratio of 0.9) and low earnings multiples (trailing P/E of 9). Unlike some other large banks, JPMorgan Chase actually reported higher revenue and net income in the third quarter compared to the same period in 2011. Fisher Asset Management, managed by billionaire Ken Fisher, more than doubled its own holdings of JPMorgan Chase last quarter (see more stocks Fisher was buying).

EMC Corporation (NYSE:EMC), the $54 billion market cap data storage company, was another common holding between Appaloosa and Cramer’s charitable trust. As with Broadcom, the trailing earnings multiple looks a bit high here- at 21- and last quarter growth was only modest versus a year earlier. Consensus for 2013 implies a forward P/E of 13, which would be more attractive from a value perspective, but we don’t want to take those projections at face value and so we’d avoid the stock, particularly given the low multiples of some other data storage companies. EMC had joined Apple as one of the ten most popular tech stocks among hedge funds.