Top 5 Stock Picks of Robert B. Gillam’s McKinley Capital Management

03. Apple Inc. (NASDAQ:AAPL) 

McKinley Capital Management’s Stake Value: $33.699 million

Percentage of McKinley Capital Management’s 13F Portfolio: 4.4%

Number of Hedge Fund Holders as of Q1 2022: 131

Apple Inc. (NASDAQ:AAPL) is rated as a Strong Buy based on 27 analysts offering recommendations in the last 3 months. For Q2 2022, Apple Inc. (NASDAQ:AAPL) had EPS valued at $1.2, beating estimates by $0.04, and brought in revenue valued at $82.96 billion, missing estimates by $9.43 million.

In its Q2 2022 investor letter, Wedgewood Partners mentioned Apple Inc. (NASDAQ:AAPL) and explained its insights for the company. Here is what the fund said:

“Apple grew revenues +9%, driven by +17% growth in the Services segment. While iPhone revenues grew a modest +5%, it was on an exceptional year ago comparison of +66%. iPhone continues to capture most industry smartphone profits by focusing on high-end price tiers. Apple is taking nearly two-thirds of the revenue share in the premium ($400 and above) smartphone segment. Further, most of the growth was driven by expansion in the “ultra-premium” price tier of $1000 or more per unit.^[1] As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially integrated circuits) and software continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.