“The interesting thing I find about Apple comes from talking to eleven different professional portfolio managers who I worked with these past 16 years. To the person, all eleven portfolio managers had nothing but glowing things to say about Apple… The eleven managers expect the fiscal 4th quarter ending September 30 to be excellent and forward guidance to be solid and comforting. But, these managers have recently been net sellers of the name. Collectively they have sold between one third to one half of their positions,” Georges Yared reports for BloggingStocks. “Why?”
“In tough times, portfolio managers try to protect two things: a portfolio’s total performance and their annual bonuses,” Yared reports.
Full article here.
[Thanks to MacDailyNews Reader “Linux Guy And Mac Prodigal Son” for the heads up.]