Top 5 Blue Chip Stocks To Buy Today

3. Apple Inc. (NASDAQ:AAPL)

No of Hedge Funds: 134

Total Value of Hedge Fund Holdings:  $127 Billion

Apple Inc. is an American multinational corporation considered as one of the biggest technology companies in the world. The company designs, develops, and markets consumer electronics, computer software, and personal computers.

The top hedge fund holder for this stock is Warrant Buffett’s Berkshire Hathaway with more than $109 billion stocks invested at the end of September. Berkshire Hathaway boosted its stake in AAPL by 286% during the third quarter.

During the fourth quarter of the fiscal year 2020 that ended September 26, 2020, the company posted revenue of $64.7 billion and quarterly earnings per diluted share of $0.73. Here is what Wedgewood Partners said about Apple in its Q3 investor letter:

“Moving on to the holdings that contributed the most to the portfolio’s absolute return during the quarter, Apple’s revenue growth accelerated to +11% as iPad revenue growth accelerated to its fastest in six years, driven by work from home and distance learning demand. The Company also reported a staggering +550 million paid subscriptions across its services line – nearly three times as many subscribers as Netflix – and up +30% over last year. We expect iPhone demand to accelerate in the coming quarters as Apple launches a flagship phone capable of running on new highspeed 5G networks around the globe. While we trimmed our position during the quarter due to our long-held maximum portfolio position size of 10%, Apple continues to be one of our largest holdings.”

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