Retirement Stock Portfolio: 5 Safe Tech Stocks to Consider

In this article, we discuss the 5 safe tech stocks for a retirement stock portfolio. If you want to read about some more tech stocks, go directly to Retirement Stock Portfolio: 11 Safe Tech Stocks to Consider.

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140     

Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. It is one of the best safe tech stocks for a retirement stock portfolio. On November 6, Apple revealed that it is working on a project to simplify the phrase “Hey Siri” to “Hey” on iPhone, iPad, Mac, Apple Watch and HomePod. Apple would also in turn speed up back-to-back requests. The company has made some changes in Siri on the Apple TV as part of tvOS 16.1.

On October 28, Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target on Apple to $200 from $220, noting that the company delivered a mixed September quarter result.

At the end of the third quarter of 2022, 140 hedge funds in the database of Insider Monkey held stakes worth $144 billion in Apple Inc. (NASDAQ:AAPL), compared to 128 in the previous quarter worth $143 billion.

In its Q2 2022 investor letter, Alger Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“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 the production of apple products, however, the manufacturing facilities have resumed activity.”