“David Einhorn’s hedge fund Greenlight Capital increased its holdings in Apple and Yahoo during the first quarter,” Josh Beckerman reports for The Wall Street Journal.
“Greenlight bought 1.9 million Apple shares, boosting its position to 8.2 million, according to a filing Monday,” Beckerman reports. “Mr. Einhorn’s quarterly letter earlier this month said Apple was one of the firm’s largest positions.”
“Greenlight added 2.4 million Yahoo shares, increasing its stake to 4.4 million,” Beckerman reports. “That moves comes as Yahoo is being pressured to work toward a sale of its struggling Web business.”
Read more in the full article here.
MacDailyNews Take: We’re detecting a trend here.
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Warren Buffett’s Berkshire Hathaway takes new $1 billion stake in Apple – May 16, 2016
With Cook pissing Apple value away by the second, at this point in time you would get higher returns by throwing you money out the window on the highway, using it for a bonfire, or donating the entire kit and caboodle to charity.
All this lazy incompetent has to do is update Steve Jobs’ products, and he’s still years behind the competition doing that:
Where’s wireless charging?
Where’s extended battery life?
Where’s true multitasking?
Where’s carbon fiber?
Where’s liquid metal?
All we get is paltry speed bumps, 500% storage markups (even 9-years after the first iPhone was released), ugly battery cases, worthless new features (force touch, sounds like molestation). Oh yeah, but they do come in hot pink!
This is mostly over the top stuff. However, if they could significantly increase battery life by dropping this obsession with thin products, it would be a great improvement. At every product announcement, they act like the entire world is hanging on whether the device is 1/32 inch thinner. Nobody cares!
While I do believe Money-To-Burn’s (Joe’s?) position is a bit over the top, I must agree that Apple has lost a great deal of its innovative and aggressive product development mojo since Steve’s demise. While Apple is CAREFULLY, SLOWLY, and METHODICALLY creeping along with product enhancements, companies like Samsung, Google, Amazon, Tesla, and the like are forging full speed ahead with new and (sometimes, not always) amazing ideas. Someone has to build a fire under Apple management and get things moving apace again . . . not to mention either putting the mountain of rotting cash here and abroad to work OR returning it to the owners of the company. (I, too, want to know, at the very least, why Apple doesn’t have wireless charging already up and running.)
To be honest apple have played catch up in recent years. Not that that is bad since apple basically get new innovations right whereas the others have eye candy that doesn’t really work.
As for the investors it is important to realize that holdings can change quickly but only need to be reported at the end of the quarter.