Apple loses favor with hedge funds SAC Capital, Viking

“SAC Capital Advisors LP and Viking Global Investors LP were among hedge funds that sold a net 6.1 million shares of Apple Inc. (AAPL) last quarter, taking advantage of the 48 percent jump in the iPhone maker’s stock,” Adam Satariano reports for Bloomberg.

“Hedge funds accounted for more than a third of the 15.2 million net Apple shares that were sold by endowments, banks, insurance companies and other investors during the first quarter, according to data compiled by Bloomberg, which was aggregated from regulatory filings,” Satariano reports. “Even so, Apple remains hedge funds’ most valuable holding. As a group they controlled 37.8 million shares as of March 31.”

Satariano reports, “Hedge-fund trades are closely followed by investors looking for clues on where the market is headed. Based on Apple’s price of $599.55 on March 30, the last business day of the quarter, sales by hedge funds had a market value of $3.66 billion. The last time hedge funds were net sellers of Apple shares was in the first quarter of 2011, when they dumped 7.25 million shares.”

“Not all hedge funds were net sellers. David Einhorn, co-founder of Greenlight Capital Inc., said Apple shares deserve to be higher,” Satariano reports. “‘Apple is the most misunderstood company in the market,’ Einhorn said yesterday at the Sohn Investment Conference in New York. ‘Apple is still penetrating the market and gaining share.’ Greenlight held on to its 1.46 million shares last quarter, according to Bloomberg data.”

Read more in the full article here.

Related articles:
Meet the men who carved $96B out of Apple’s market value – May 17, 2012
Apple stock continues swoon – May 17, 2012

16 Comments

  1. If the hedge funds are getting out of it, great! Good riddance. Hope they stay away. Without the constant manipulation we might seem some valuation based on Apple’s actual performance by smaller investors. Well, one can always dream…

  2. Guys!! It is clear that big investors want (us) to sell now !!! Surrender or scared !!! Apple bridge is falling down , falling down …. I am so scared !!!!! So scared !!!!!!!!! I am going to surrender !!!

  3. This is actually good news, with more than a hundred billion on hand, Apple can just buy back stock and have more control. Don’t let the greedy people make the decisions, Steve Jobs was able to manage the shareholders, but Tim is not that good telling the shareholders to shut the F up.

  4. The Steve used to say don’t worry about stock price. Just focus on creating insanely great products that people want to use and the rest will take care of itself. I’ll bet they are still taking his advice on that one. Yes, Tim Cook had to supply a dividend to shut up the whiners and take the focus off the cash pile, but hopefully that’s it as far as capitulating with Wall Street. I have a ton of confidence in these guys in the long haul and the stock will reflect it over time. The markets will have no choice but to acknowledge the numbers.

  5. AAPL is on sale. buy more. I don’t really understand how the fastest growing handset maker in the world is down so much, but it must have something to do with options manipulation.

  6. Apple is the most misunderstood company in the market

    I know why: Apple’s business model makes sense and consistently works.

    Today’s desperately stupid world of biznizz, where the company is predator and the customer is prey, cannot comprehend actual, factual capitalism. These BizTards are so soaked in corruption, abuse and psychopathic biznizz skool training that they understand nothing else. This worthless generation of BizTards must die before the USA can restore REAL capitalism once again.

    Oh, and I’m happy to lend my pitchforks and torches for the mass BizTard lynching. Just give me 24 hours advance notice. 😉

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.