“Time to sell Apple stock?” Heather Long writes for CNNMoney. “Most Main Street investors say: No way!”
“Hedge fund bigwig Carl Icahn dumped all of his Apple stock last week, but Main Street investors are sticking by the beloved company,” Long writes. “‘Why would anyone in their right mind sell Apple?’ says Robert Ostrowski of Williamsburg, Virginia. He thinks Icahn’s move is just a stunt.”
“Apple is by far and away the top stock held individual investors. It’s popular across all age groups — from teens through retirees. Many bought when the stock was cheap in the early 2000s or after Steve Jobs’ death in 2011,” Long writes. “They are long-term investors who have made thousands of dollars (some as much as $1 million) from investing in Apple.”
“Main Street investors aren’t giving up now,” Long writes. “CNNMoney has kept in touch with dozens of ‘average Joe and Jane’ investors over the years. In an informal survey this week, nearly 85% said they had not sold any shares of the stock in the past year. That’s backed up by data from Openfolio, a social networking app for investors with 65,000 members. Openfolio hasn’t seen a decline in Apple stock ownership recently.”
Read more in the full article here.
MacDailyNews Take: As long as you’re not selling, what’s not to love about a deep discount sale?
Apple ended last quarter with $232.9 billion in cash plus marketable securities, a sequential increase of $17.2 billion in the 91-day period.