Mario Gabelli’s 2022 Portfolio: 5 Tech Stock Picks

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Mario Gabelli’s Stake Value: $36,268,000

Percentage of Gabelli’s Portfolio: 0.32%

Apple Inc. (NASDAQ:AAPL) is a Cupertino, California-based tech giant involved in consumer electronics, digital streaming, and other tech-related services.

Apple Inc. (NASDAQ:AAPL) is looking for avenues to maintain an annual revenue growth of 10%, which means that the company needs to increase its sales by $40 billion annually. During the annual World Wide Developer Conference (WWDC), Apple Inc. (NASDAQ:AAPL) touched upon various developments to take the company forward. Apple Inc. (NASDAQ:AAPL) is considering augmented reality as the next big idea and is working on launching its AR/VR glasses. The company’s entry into the financial sector through the introduction of Apple Pay Later is also a step in a new direction.

Apple Inc. (NASDAQ:AAPL) was discussed in the Q4 2021 investor letter of ClearBridge Investments. Here’s what the firm said:

“Despite these mixed emerging growth results, the ClearBridge Global Growth Strategy outperformed the benchmark due to resilience among our secular and structural growth holdings. The bulk of these contributions came from U.S. mega-cap growth stocks Apple and Microsoft which continued to uniquely act both offensively and defensively as they have through most of the pandemic.”

Apple Inc. (NASDAQ:AAPL) was held by 131 hedge funds as of Q1 2022.