Should You Sell Apple (AAPL) Now?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Concentrated Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.72% (net), compared to a -3.37% return for the Russell 3000 Growth Index. The energy sector remained relatively strong in the quarter while Real Estate and Consumer Staples especially detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Apple Inc. (NASDAQ:AAPL) in the Q3 2022 investor letter. Headquartered in Cupertino, California, Apple Inc. (NASDAQ:AAPL) is a multinational technology company. On December 26, 2022, Apple Inc. (NASDAQ:AAPL) stock closed at $131.86 per share. One-month return of Apple Inc. (NASDAQ:AAPL) was -10.97% and its shares lost 25.20% of their value over the last 52 weeks. Apple Inc. (NASDAQ:AAPL) has a market capitalization of $2.098 trillion.

TimesSquare Capital made the following comment about Apple Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter:

Apple Inc. (NASDAQ:AAPL) designs and manufactures smartphones, personal computers, tablets, and wearable devices. The company reported better than expected revenues, though that came from a lower-than-expected supply chain impact. Apple called out pockets of weakness in wearables as well as home & accessories. Management referenced macroeconomic uncertainty and sounded somewhat guarded when commenting on fourth quarter expectations. In September, Apple introduced four new iPhones with retail prices kept at last year’s levels. Its shares edged forward by 1% in consideration of these developments. We trimmed the position after evaluating the channel which highlighted some consumer demand choppiness.”

Apple Inc. (NASDAQ:AAPL) is in 9th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 140 hedge fund portfolios held Apple Inc. (NASDAQ:AAPL) at the end of the third quarter, which was 128 in the previous quarter.

We discussed Apple Inc. (NASDAQ:AAPL) in another article and shared the list of near monopoly stocks in the US. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.