Jim Cramer Stock Portfolio: 5 Recent Additions

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140

Apple Inc. (NASDAQ:AAPL) is one of the stocks in Cramer’s Charitable Trust portfolio. He said on November 22:

“Once the Fed relents, I’d much rather be in Big Tech.”

Apple was one of Cramer’s top choices recently. 

On November 28, Wedbush analyst Daniel Ives said that with the “head scratching” zero COVID policy in China now reaching a peak and protests across the country, Apple Inc. (NASDAQ:AAPL) is basically caught in the middle heading into the all-important Christmas season. He estimates that Apple Inc. (NASDAQ:AAPL) now has huge iPhone shortages that could take off nearly 5% of units in the quarter and potentially up to 10% depending on the next few weeks in China around Foxconn production and protests. In many Apple Inc. (NASDAQ:AAPL) stores, the analyst is seeing large iPhone 14 Pro shortages of up to 35%-40% of normal inventory heading into December, with digital channels pushing deliveries into early January in many cases based on model/storage/color. The analyst has an Outperform rating and a price target of $200 on Apple shares.

According to Insider Monkey’s data, 140 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL) at the end of Q3 2022, compared to 128 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the biggest stakeholder of the company, with nearly 895 million shares worth $123.6 billion. 

Here is what Wedgewood Partners specifically said about Apple Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter:

“Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as 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.”