Aug 24, 2016 - 05:15 PM UTC — AAPL: 108.03 (-0.82, -0.75%) | NASDAQ: 5217.69 (-42.38, -0.81%)
“Google Inc. (GOOG), operator of the world’s largest Web-search engine, has passed Apple Inc. (AAPL) to become the most-owned stock by the 50 biggest actively managed U.S. mutual funds, according to a report by Citigroup Inc,” Lisa Rapaport reports for Bloomberg. “Among hedge funds, Google was also the top holding, according to the report, which examined investments at the end of the fourth quarter for the largest funds by asset size.”
“Google’s shares are now trading at about 25 times profit, compared with a price-to-earnings ratio of less than 10 for Apple, according to data compiled by Bloomberg,” Rapaport reports. “That gap is at its widest since June 2005, two years before competition between the two companies in mobile devices began to intensify.”
Read more in the full article here.
MacDailyNews Take: Good, maybe they’ll turn their attention to manipulating GOOG instead of AAPL for a change.