Ken Fisher’s Top 5 Growth Stock Picks

Page 5 of 5

1. Apple Inc. (NASDAQ:AAPL)

Fisher Asset Management’s Stake Value: $8,978,366,000 

Percentage of Fisher Asset Management’s 13F Portfolio: 6.35%

Number of Hedge Fund Holders: 128

On July 28, Apple Inc. (NASDAQ:AAPL) released earnings for the third quarter of fiscal 2022. The company reported earnings per share of $1.20 and beat expectations by $0.04. The company reported sales of roughly $83 billion. As of September 21, Apple Inc. (NASDAQ:AAPL) has a trailing twelve-month operating margin of 30.5% and free cash flows of $107.5 billion.

On September 12, Wedbush analyst Daniel Ives reiterated his buy-side Outperform rating and $220 price target on Apple Inc. (NASDAQ:AAPL). On September 20, Evercore ISI analyst Amit Daryanani raised his price target on Apple Inc. (NASDAQ:AAPL) to $190 from $185 and maintained an Outperform rating on the shares.

According to Insider Monkey’s database, 128 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL) at the end of the second quarter of 2022. These funds held collective stakes worth $143 billion in the company. As of June 30, Fisher Asset Management’s stake in Apple Inc. (NASDAQ:AAPL) is valued at $8.97 billion.

Here is what Alger Capital had to say about Apple Inc. (NASDAQ:AAPL) in its second-quarter 2022 investor letter:

Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications. computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact production of apple products, however the manufacturing facilities have resumed activity.”

You can also take a look at 10 Blue Chip Dividend Stocks Hedge Funds Are Buying and 10 Best Tech Stocks to Buy According to Billionaire Ken Griffin.

Page 5 of 5