Is it Still Worthy to Buy Apple (AAPL) Shares?

GreenWood Investors, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. The fund’s fourth-quarter performance was impacted along with most other stocks, -12.3% for the Global Micro Fund and -10.9% for the euro-denominated Luxembourg Global Fund. Both funds were up 13.0% and 24.2% respectively for the year, highlighting the impact of our unhedged currency position that we believe is transitory. These returns frustratingly compare poorly to the MSCI ACWI benchmark returns of +6.0% in the quarter and +18.2% YTD (+16.6% and +27.2% respectively in euro-denominations). Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Greenwood Investors, in its Q4 2021 investor letter, mentioned Apple Inc. (NASDAQ:AAPL) and discussed its stance on the firm. Founded in 1976, Apple Inc. (NASDAQ:AAPL) is a Cupertino, California-based technology company with a $2.6 trillion market capitalization, and is currently spearheaded by its CEO, Tim Cook. Apple Inc. (NASDAQ:AAPL) delivered a -35.64% return since the beginning of the year, while its 12-month returns are down by -25.38%. The stock closed at $163.98 per share on March 18, 2022.

Here is what Greenwood Investors has to say about Apple Inc. (NASDAQ:AAPL) in its Q4 2021 investor letter:

“Today’s internet champions are increasingly going after each others’ profit pools in order to continue to try and print double-digit growth. Facing its typical tough three-year iPhone cycle, Apple in particular, is hiding behind its mantra of “privacy” to confiscate advertising dollars away from its cross-valley rivals. Nearly half of Meta Lab’s lost advertising revenue in the wake of “privacy changes” on the iPhone is pure bottom-line profit flowing through to Apple. The last firm we saw hiding behind a fake motto was Volkswagen in its “clean diesel,” publicity push. It risks blowing up any remaining goodwill Apple has, as it has largely escaped antitrust and popular scrutiny.”


Our calculations show that Apple Inc. (NASDAQ:AAPL) ranks 3rd on our list of the 30 Most Popular Stocks Among Hedge Funds. Apple Inc. (NASDAQ:AAPL) was in 224 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 248 funds in the previous quarter. Apple Inc. (NASDAQ:AAPL) delivered a -35.14% return in the past 3 months.

In February 2022, we published an article that includes Apple Inc. (NASDAQ:AAPL) in the 5 Technology Stocks Hedge Funds Are Talking About. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.

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