In this article, we discuss the top 5 stocks to buy in 2022 according to Motley Fool’s 1623 Capital. If you want to see more top stocks in the hedge fund’s portfolio, check out Top 10 Stocks to Buy in 2022 According to Motley Fool’s 1623 Capital.
5. Apple Inc. (NASDAQ:AAPL)
1623 Capital’s Stake Value: $10,657,000
Percentage of 1623 Capital’s 13F portfolio: 5.34%
Number of Hedge Fund Holders: 131
Motley Fool’s 1623 Capital owns 61,032 shares of Apple Inc. (NASDAQ:AAPL), worth $10.65 million, representing 5.34% of the total 13F portfolio. On July 5, Morgan Stanley analyst Katy Huberty revealed that Apple Inc. (NASDAQ:AAPL)’s App Store net revenue growth slowed to 2.5% year-over-year in June, down from 4% growth in May. App Store net revenue increased 5% year-over-year to $6.5 billion for the second quarter, which is about $67 million under her present prediction of 6% year-over-year growth in the quarter. The analyst reiterated an Overweight rating and a $185 price target on Apple Inc. (NASDAQ:AAPL) shares.
According to Insider Monkey’s first quarter database, 131 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL) at the end of Q1 2022, compared to 134 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the largest shareholder of the company, with approximately 891 million shares worth $155.5 billion.
Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Apple Inc. (NASDAQ:AAPL) in its Q1 2022 investor letter:
“Changes to Apple’s (NASDAQ:AAPL) mobile operating system have temporarily impacted growth of Meta’s advertising business just as the company’s investments in Instagram’s “Reels” feature ramp ahead of full monetization. (Shareholders can read research analyst Jon Baker’s in-depth discussion of current events impacting Meta and reasons why we’re optimistic about the company in our recent Analyst Corner feature.) CoreCard (formerly Intelligent Systems) struggled early in the fiscal year to hire and train staff to handle growth from new and existing clients. Lately, Apple-related headlines also took a bite out of CoreCard shares, as reports suggest Apple is exploring a transition of its credit card and other financial services to internally built solutions. Such a move would create revenue headwinds for its partners, which CoreCard is widely believed to be. We are monitoring these developments and stress-testing our model accordingly.”