Top 10 Stocks to Watch After Federal Reserve’s Rate Cut

4. Apple Inc (NASDAQ:AAPL)

Number of Hedge Fund Investors: 156

Jeff Kilburg from KKM Financial said in a program on CNBC late July that he was selling Nvidia shares and buying Apple Inc (NASDAQ:AAPL). The analyst at the time said there was an opportunity for Apple Inc (NASDAQ:AAPL) to reach $230 if the company could show something “tangible” related to AI. While the iPhone maker is yet to make a dent with its AI plans, the stock was trading at around $238 as of September 18, having gained about 4% over the past 30 days. Here is what the analyst had said about Apple Inc (NASDAQ:AAPL):

“They have to say something. They have to capture AI somehow someway. They’re not a hyperscaler, so they don’t need to spend the money, but they need to deliver something to provide some optimism. We’re seeing Apple down about 17% from its all-time high. So, there’s an opportunity for Apple to run back up to 230, but it has to be tangible. We need something AI, Melissa, you’re right. Yeah, but you’re not paying. It’s not cheap. Apple’s not cheap here. Correct. It’s not. But I think if you look at the MAG 7, look at the MAG 7, it’s a 62% market cap concentration of the NASDAQ 100. It’s about 35% as a collective MAG 7 in the S&P 500. So Apple being the laggard, we have to remember, Melissa, that Apple, I know, has had a rough year, but the last couple years it has been producing. It’s been the cash cow. And it would be interesting to see if they make some type of purchase potentially in AI. It’d be the biggest purchase since Beats was just three billion.”

Renaissance Large Cap Growth Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its second quarter 2025 investor letter:

“Apple Inc. (NASDAQ:AAPL) declined in the quarter. Despite reporting solid operating results, the stock came under pressure over concerns about decelerating iPhone sales, China growth headwinds, and underwhelming details for Apple’s long-awaited AI strategy. Tariffs were also an unexpected negative surprise, with Apple quantifying a sizable $900M cost impact. Moreover, the latest development in the Apple vs. Epic Games lawsuit resulted in a ruling that Apple had violated an earlier injunction, questioning Apple’s absolute control over its App Store.”