“Fidelity Investments, the world’s largest mutual-fund company, and money manager Wellington Management Company LLP increased their stakes in technology companies including Apple Inc. during the first quarter,” Sree Vidya Bhaktavatsalam reports for Bloomberg.
“Fidelity added 2.9 million shares of Apple, bringing the total to 58 million, or 6.7 percent of the total stock outstanding, according to a regulatory filing. Wellington bought 20 million shares, getting a 2.3 percent stake in the Cupertino, California-based maker of the iPod portable music player,” Bhaktavatsalam reports.
“The purchases by the two Boston-based asset managers took place before Apple’s shares surged above $100 for the first time on optimism its release of the iPhone device in June will boost sales. The iPhone combines the features of an iPod and a mobile phone, and will offer email and Internet access. Apple’s stock has risen an annual average of 54 percent over five years,” Bhaktavatsalam reports.
Full article here.
If they knew what they were doing, they would’ve done this a month ago.
They wouldn’t just consider Apple the maker of the iPod, either. The income from computers was better than that from iPods last quarter.
Typhoon, maybe if you knew what you were writing about, you would realize that you don’t buy 20 million shares of anything in one day unless it’s a merger. They started buying AAPL before the stock hit $100, meaning – ta da – they did start buying the shares about a month ago.
Someone I doubt you realize the unintended irony of your smirkiness, as the Fidelity and Wellington buys directly contributed to the run-up of AAPL’s share price.
Ha ha. NewType, in his castigation of typhoon, said “someone” instead of “somehow”.
Was so quick to post based on wanting to be “first!” they just read the title and not the article. Brilliant eh?
*typhoon, well done, not that its that important, but at least you were first
Obviously, “someone” should be “somehow” – I do own up to my mistakes.
I’m still in a bad mood over the Engadget stock story debacle, even if it blew over very quickly. People are out to manipulate Apple’s stock price and with May options expiring tomorrow, I wouldn’t be surprised if hedge fund operators tried another dirty trick in an attempt to recoup their short and put call losses.
And TowerTone, just exactly what in the hell are you talking about?! As Mr. Perfect noted, I was castigating typhoon about his silly “I know better” attitude even as he apparently overlooked the fact that anyone buying 23 million shares will directly drive up the price of AAPL. And now you are talking about gonads and queers?
Typhoon may have demonstrated an overzealous attempt to seem smarter than the big players, but TowerTone, you are just plain nonsensical, if not gonad-obssessed.
BTW, Typhoon, I realize that my last post still is sounding mean so I do apologize. Still in a sour mood over Engadget’s idiocy and lame attempt to avoid responsibility. So it was a quick draw post – who isn’t guilty of that? So I do say sorry for being so mean up there.
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(No further comments about TowerTone’s weird comments though)
@ NewType :
I meant they would’ve done this a month and a day ago, so technically I was correct.
” width=”19″ height=”19″ alt=”raspberry” style=”border:0;” /> Besides, 23 millions shares is an odd lot. Doh!
And they lived happily ever after.
The END
If it is important for you to post first. Send an article to MDN and wait for them to post it.
Having the exact quip to hand, you can make a killer post before we have had time to read it.
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Or you can make lots of tiny remarks just like a crab does when it takes lot of little steps in any direction of its fancy! Sea Faring Crabs that is!
@Typhoon
“Fidelity Investments, the world’s largest mutual-fund company, and money manager Wellington Management Company LLP increased their stakes in technology companies including Apple Inc. during the first quarter”
First quarter here is referring to Jan – Mar. Therefore, over 45 days ago and over several days at that. And as someone else mentioned, it’s the funds buying that increased the value of AAPL out of the mid-85s it was at around Jan 1, 2007.
With all the bickering, no one noticed or commented on Bloomberg’s report describing AAPL as maker of the iPod.
Macromancer is increasing his stakes in AAPL on a weekly basis.
AAPL doesn’t make the iPod?
Those amateurs are little late.
Fine comment from OgfF above!
OK. I’ve been in since 70, but why wasn’t I in since 17 when I felt the same way about appl as I have since 2000? That’s something I will ask myself over and over again…in fact I regularly argue with myself about it too..and generally lose.
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Hi Cathy;
Paul & I were chatting about Apple the other day and I thought he might like to see this article.
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Cheers – Ian
Ian apologizes for the incorrect post. 🙁
“If they knew what they were doing, they would’ve done this a month ago.”
Piper has been the firm on the ball about Apple longer than anyone else. If you would have bought $1,000 of Apple stock at $10 a couple of years back, your investment would now be worth over $20k. I’d say much of Wall Street was way late to the party.