Published on 25 May 2024 on Insider Monkey via Yahoo Finance
Is Apple Inc. (NASDAQ:AAPL) Warren Buffett’s Favorite Dow Stock?
Apple Inc. (NASDAQ:AAPL) is indeed Warren Buffett's favorite Dow stock as his firm, Berkshire Hathaway owns 789,368 million of the company shares worth $135.361 billion as of the first quarter of 2024. However, we recently identified the best Dow stocks according to hedge funds, and Apple Inc. (NASDAQ:AAPL) takes the 5th spot on our list of Best Dow Stocks. To view the number 1 Dow stock to buy now, go to 8 Best Dow Stocks to Buy According to Hedge Funds.
On May 17, the Dow Jones Industrial Average (^DJI) closed out at record highs, crossing the 40,000 milestone for the first time ever. However, this was a little shortlived as the index is down nearly 2.35% since that day, as of May 23. While the index seems to be underperforming the S&P 500 and NASDAQ, it doesn’t fully cover the market conditions like the latter two. Nevertheless, the S&P 500 and NASDAQ’s performance is mostly dominated by mega-cap tech stocks, especially NVIDIA Corporation (NASDAQ:NVDA), which isn’t a part of the Dow Jones index.
Dow Bucks Trend, Falls Despite NVIDIA's Upbeat News