Apple (AAPL) Soared on Better Than Expected Results

RiverPark Advisors, an investment advisory firm and sponsor of the RiverPark family of mutual funds, released its “RiverPark Large Growth Fund” Q3 2025 investor letter. A copy of the letter can be downloaded here. U.S. equity markets recorded strong gains in the third quarter, with the S&P 500 Total Return Index rising 8.12% and the Russell 1000 Growth Index returning 10.51%. The fund also surged in the quarter and returned 4.73%. Market leadership was narrow in the quarter, with a few mega-cap tech and consumer companies thriving on strong AI innovation. Information Technology, Consumer Discretionary, and Communication Services led sector performance, while Energy and Utilities lagged. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, RiverPark Large Growth Fund highlighted stocks such as Apple Inc. (NASDAQ:AAPL). Apple Inc. (NASDAQ:AAPL) is an American multinational company that designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories. The one-month return of Apple Inc. (NASDAQ:AAPL) was 3.48%, and its shares gained 16.79% of their value over the last 52 weeks. On November 18, 2025, Apple Inc. (NASDAQ:AAPL) stock closed at $267.44 per share, with a market capitalization of $3.969 trillion.

RiverPark Large Growth Fund stated the following regarding Apple Inc. (NASDAQ:AAPL) in its third quarter 2025 investor letter:

"Apple Inc. (NASDAQ:AAPL): AAPL shares rose strongly in the quarter following better-than-expected fiscal Q3 results and optimism around the company’s AI strategy. Total revenue of roughly $94 billion grew 10% year-over-year, led by a 15% increase in iPhone sales and another record in Services revenue of $27 billion. Investors responded positively to Apple’s ability to offset macro and China-related headwinds through product innovation, margin expansion, and continued growth in its recurring Services business.

We believe Apple remains one of the most innovative and durable franchises in global technology. Its 2.2 billion-device installed base underpins a growing ecosystem of high-margin recurring revenue, while new initiatives in on-device AI, augmented reality, and manufacturing localization further strengthen the company’s strategic position."

Apple Inc. (NASDAQ:AAPL) is in 8th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 156 hedge fund portfolios held Apple Inc. (NASDAQ:AAPL) at the end of the second quarter, which was 159 in the previous quarter. Apple Inc. (NASDAQ:AAPL) reported revenue of $102.5 billion in the September quarter, reflecting an 8% year-over-year increase. While we acknowledge the potential of Apple Inc. (NASDAQ:AAPL) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Apple Inc. (NASDAQ:AAPL) and shared the list of AI stocks investors are watching. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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