Investment

Here’s Why You Should Consider Investing in Apple (AAPL)

Published

2 years ago

January 21, 2023

Wedgewood Partners, an investment management firm, published its fourth quarter 2022 investor letter – a copy of which can be downloaded here. A quarterly net increase of 5.2% has been recorded by the fund for the fourth quarter of 2022, below the S&P 500 Index’s 7.56% gain for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

In its Q3 2022 investor letter, Wedgewood Partners mentioned Apple Inc. (NASDAQ:AAPL) and explained its insights for the company. Founded in 1976, Apple Inc. (NASDAQ:AAPL) is a Cupertino, California-based multinational technology company with a $2.1 trillion market capitalization. Apple Inc. (NASDAQ:AAPL) delivered a 4.11% return since the beginning of the year, while its 12-month returns are down by -17.77%. The stock closed at $135.27 per share on January 19, 2023.

Here is what Wedgewood Partners has to say about Apple Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter:

“Apple grew quarterly revenues +14% (foreign exchange adjusted) driven by +16% growth in iPhone revenues (also foreign exchange adjusted). iPhone revenue growth was particularly impressive because The Company is compounding on +47 growth from a year ago. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business, which in turn has generated almost $80 billion of revenue over the past four quarters and is up +60% compared to calendar 2019 (pre-Pandemic). 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 their products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.”

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Our calculations show that Apple Inc. (NASDAQ:AAPL) ranks 9th on our list of the 30 Most Popular Stocks Among Hedge Funds. Apple Inc. (NASDAQ:AAPL) was in 140 hedge fund portfolios at the end of the second quarter of 2022, compared to 128 funds in the previous quarter. Apple Inc. (NASDAQ:AAPL) delivered a -5.66% return in the past 3 months.

In January 2023, we published an article that includes Apple Inc. (NASDAQ:AAPL) in 5 Stocks with the Biggest Buybacks. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q4 2022 page.

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

7 days ago

October 16, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

2 weeks ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

2 weeks ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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