Mitch Rubin’s RiverPark Advisors Portfolio: Top 5 Stock Picks

4. Apple Inc. (NASDAQ:AAPL)

RiverPark Advisors’ Stake Value: $26,466,000

Percentage of RiverPark Advisors’ 13F Portfolio: 3.37%

Number of Hedge Fund Holders: 138

Apple Inc. (NASDAQ:AAPL) is one of the Big Five US tech firms, and also a top stock of Mitch Rubin’s Q2 portfolio. RiverPark Advisors, as of the second quarter, owns 193,239 shares in Apple Inc. (NASDAQ:AAPL), worth $26.46 million, representing 3.37% of the firm’s stock portfolio. In addition to the signature Apple Inc. (NASDAQ:AAPL) products like iPhones, iPads, MacBooks, and Apple Watches, Apple Inc. (NASDAQ:AAPL) is reportedly working on electric vehicles which will be launched by 2025, if the growing patents are any indication of Apple Inc. (NASDAQ:AAPL) entering the automobile industry. 

As of June, 138 hedge funds observed by Insider Monkey were long Apple Inc. (NASDAQ:AAPL), up from 127 in the first quarter. 

Apple Inc. (NASDAQ:AAPL)’s Q3 EPS, as of October 28, was reported as $1.24, meeting analysts’ consensus estimates. Revenue for the quarter equaled $83.36 billion, missing estimates by -$1.62 billion. 

Richard Kramer, an Arete analyst, on November 9, kept a Buy rating on Apple Inc. (NASDAQ:AAPL), raising the price target from $168 to $180. Apple Inc. (NASDAQ:AAPL) is positioned to avoid the chip shortages that are currently prevalent in the industry, according to Kramer, who raised his 2022 fiscal estimates for Apple Inc. (NASDAQ:AAPL) products above the consensus estimates. 

Here is what ClearBridge Investments has to say about Apple Inc. (NASDAQ:AAPL) in its Q1 2021 investor letter:

“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”