From Nasdaq: 2024-04-27 06:17:00

In 2023, 100 members of Congress traded stocks, with one-third beating the S&P 500. Interestingly, they didn’t load up on FAANG stocks but favored Apple, making it the second most bought stock by lawmakers after ConocoPhillips.

Even though Meta Platforms outperformed Apple in 2023, politicians leaned towards Apple stock. However, recent data suggests members of Congress are now selling more Apple stock than buying due to lackluster growth and valuation concerns.

Rumors suggest early sales of Apple’s new Vision Pro headset are disappointing, but CEO Tim Cook hinted at upcoming AI innovations. This could either disappoint or spur interest among investors, potentially leading to an “iPhone supercycle” and a boost for Apple.

While Apple remains popular among lawmakers, the Motley Fool’s Stock Advisor service didn’t include it in their top 10 stock picks. This suggests other stocks might offer better growth potential, prompting investors, including members of Congress, to consider alternatives.



Read more at Nasdaq: This Is the Only FAANG Stock Lawmakers on Capitol Hill Were Net Buyers of Last Year