“Hedge fund billionaire David Tepper has sold his entire stake in Apple, according to a filing with the Securities and Exchange Commission,” Tim Hardwick reports for MacRumors.
“Tepper’s 1.26 million shares in the company were last valued at around $133 million, according to data from Bloomberg,” Hardwick reports. “The massive sale of Apple shares is the second reported in as many months, after billionaire Carl Icahn dumped his stake in the company earlier this year.”
Hardwick reports, “Two days ago, shares of Apple fell below $90 for the first time in nearly two years.”
Read more in the full article here.
MacDailyNews Take: Buy high, sell low! Oh, wait…
Strike that, reverse it. — Willy Wonka
Massive, relentless, liquidation of Apple shares. I am holding on but my losses are huge.
I just sold a bunch of other stocks to double down on this Apple fire sale. I hope it pays off and doesn’t plummet any further! But at a P/E of 10, the downside risk seems pretty safe.
Low P/E’s are not always cheap if a companies’ fundamentals have changed in a way that won’t be easy to turn around.
Looking at Apple’s product decisions and likely pipeline over the next year – and at the increasingly not only “good enough” offerings in the Android world, but eclipsing Apple’s in many ways and certainly in breadth of choice of options – NTM problems looming in China and elsewhere, etc., I’m not sure whether this is a fire sale… …or a fire….
Intelligent observation. I too believe AAPL will have a difficult time in the foreseeable future. But it is still a great company and they make great products. Profits are never profits until you sell. Profits on paper are just that, paper profits. Surprising how many people don’t understand that. Or worse, refuse to acknowledge it.You invest to make money not to make friends or brag about believing in a product or company. No one knows or cares which stocks you have in your portfolio. It’s not some badge of courage to stick with any investment when there are other opportunities. You can’t spend paper profits.You support a company by buying it’s product.You support yourself by making wise investments with your hard earned money. Companies have good times and bad times. Being stubborn and ignoring facts is a good way to miss out on profitable investments. And as for dividends, there are much better and safer investments for dividend returns.
You are taking a huge risk with doubling down on Apple. Many people did what you did in 2013 and it practically wiped them out. Wall Street doesn’t give a damn about Apple or Tim Cook when there’s plenty of other winning stocks like Amazon, Alphabet, Tesla, Facebook, Microsoft or practically any other tech stock on the planet. All those stocks have beautiful P/Es and only Apple’s P/E is crap.
Apple has become poison for recent investors. Everyone keeps claiming Apple is cheap but it’s always cheaper tomorrow. It’s never a bargain to buy a stock that’s going to cause you to lose money. With Apple, that’s almost a guarantee.
Tim Cook and the rest of those highly-paid executives are simply enjoying their paychecks and doing nothing to earn them. They’re killing shareholders while sitting on a mountain of cash for themselves. It probably doesn’t matter to any of them how low Apple’s share price drops because their salaries are safe.
I’m not concerned because I’ve owned Apple well over a decade and I can sit back and take the dividends. I’ve done well by Apple. I’m only giving my opinion and I may be wrong, but I think Wall Street wants to utterly destroy Apple’s financial value and they may be able to do it through the constant FUD they’re spewing. I’m not worried about the health of the company as long as Apple has loyal customers and I believe they still do.
I’ll assume you are just trying to drive the shares lower with your posting. A 10 P/E means you get your money back in 10 years, a P/E of 73, like Facebook, means it takes 3/4 of a century to get your money back. And Tesla doesn’t even have a P/E.
OK, there are investors (big investors) selling their AAPL holdings. The issue isn’t that some investors are selling, but WHO is buying.
There are only two types of investors: institutions (corporations) and retail (individuals).
According to FINVIZ.com institutional investors (the big boys) have increased their aggregate percentage ownership of total Apple shares from 59.30% to 60.10% with the latest round of 13F filings. Therefore, the big boys are net BUYERS, while the little investors (retail) are net SELLERS.
In every trade there is a SELLER and a BUYER. To understand the significance of those SELLING, you have to consider who is BUYING.
Reports of major investors selling is only half the story, and in this case, totally misleading and not representative of what is truly happening.
Remember, its always darkest before the dawn, and the big boys buy about six to nine months before the next rally (when the little investor is most fearful).
We are the same boats, they are sinking fast!. 😥😥😓😪😥
“Hedge fund billionaire David Tepper has sold his entire stake in Apple,” I am guessing he lost money if he bought higher than current. That means that he needs the money to cover other bets that failed.
Sounds like another person too stupid to actually know what he is doing.
While I buy and sell a few shares for the fun of it, I got back in at 124$. So I have to sit a while on those. I AM NOT LOSING MONEY on those shares unless I sell low. I am getting over .5 dollars per share 4 times a year on those shares.
Meanwhile I have picked up shares at 105, 102, 97 and 93. Yep, I did not get them at the lowest, but when Apple hits 130, I will be a happy person. (30% rise in value. 🙂 )
Apple is not going anywhere and appl will go back up once the crazies have lost enough money. (PS beware the shorters, they are always saying apple is crashing…… cause they have to, or they lose money. LOL.
On the up side, Carl Ichan is taking a hit
Tim Cook did this to him on purpose. 🙂 This is the way to get these unwanted owners out and let the long Apple owners to buy more cheap. 🙂
Really?
LOL FUNNIEST COMMENT EVER!
Don’t sell, buy more if you are able to.
“my losses are huge”
Not till you have to sell them. As long as Apple keeps making boatloads of money (that includes boatloads more than Alphabet) you’ll be fine. Assuming you don’t need to sell soon.
Apple is an investment, not a short term get-rich-quick stock.
Birdseed, this is why you’ll lose so much! If you’re in the market you should NEVER be married to a stock, period! Personally, I sold on the high and have been completely out of AAPL for a long time. This dip is price does only one thing to me – makes me smile because the players that be, the ones that matter the most, know full well the company is going higher. There should be a buying opportunity coming real soon.
It’s still not below $90. Not a very effective FUD machine, I thought at least that the could drive it to the $85-$75 region.
Oh well, it’s still getting rid of the shirkers.
What would Ali G say-sell high like when he had that killer weed from Germany and sold his car for 12 Chicken McNuggets
…something is afoot.
you’re a foot
you’re an ass.
The reason for the big sell is because of this:
http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html
Anyone that got in after Steve Jobs died not only missed the massive upside of Apple as a growth company, they took a risk that Apple could buck the “law of big numbers”.
I bought thousands of shares of Apple inside my IRA at (1993) price of about $11/share. I rode it up to $220, down to $88 (market crash), and back up to a post-Jobs price of $590. A ride that has never occurred ever in the stock market, and is unlikely to ever occur again I sold the whole shebang and now have a level of comfort (at 60 years old) that I never expected from my “normal” retirement savings.
I wouldn’t dream of getting back in to Apple now. It’s just a company. And whoever thought we’d see Nokia crash?
The AAPL share price when SJ died in October 2011 was about $58 per share — equivalent to $406 after adjusting for the 7:1 split in June 2014.
But the AAPL share price rose to a high of about $125 in June 2015, equivalent to $875 (before the 7:1 split in June 2014).
Also, AAPL started paying dividends in 2012.
Yes, later buyers lost out on big gains compared with those who bought AAPL at silly low prices 10 or 15 years ago. But it is not exactly like every one of them necessarily lost big money.
For those who invest for the long-term, I think there is still money to be made in AAPL. But I do understand why you might want to lock in your gains after a sweet ride with AAPL shares. Kudos to you, my friend. Good luck to all others.
SJ died in Oct 2011. AAPL shares bought on Nov 1, 2011 (at $54.60) appreciated 65.8% to last Friday’s closing price of $90.52. Add another 13.6% return for the $7.45 in dividends paid out, which brings the total return on those shares to 79.4%. This beats the NASDAQ composite index, which appreciated 59.6% between Nov 1, 2011 ($ 2,717) and today ($ 4,718).
It is never fun to watch any investment retreat from its high, including AAPL shares retreating from a high of $125 over the past 18 months. And anyone who bought shares at these highs may see them under water for some time. Hopefully the shares are dollar-unit averaged with others bought at more favorable prices.
But it does not necessarily mean Apple is doomed and all AAPL investors are ruined. Or that AAPL has no future business prospects and share appreciation potential. I guess that is my point.
mickmoore: you’e done well on your AAPL investment. And no one can fault you for locking in gains. But just because you decided to sell your shares when you did, does not necessarily mean Apple and AAPL shares have no further growth potential. Time will tell. Meanwhile, have fun counting your money. All the best!
I’m tired of the stupid comments on this site about AAPL. These sites used to be about the products and the company, not the fucking net worth. No one EVER considers the fact that Apple is a much bigger company. It’s funny that investors always complained about Apple being stretched too thin while complaining that they’re now expanding fast enough.
It’s ridiculous. And in a few years from now… Apple will be what we Llmwant to be… As has ALWAYS HAPPENED.
I agree, too much emphasis on the stock. I wish Tim Cook would believe in that.
Apple’s shareholders need the SEC to start looking into what is going on.
Everyone loses when there are unfair advantages afforded to one, one group, or many groups in isolation. Perhaps the two hedge fund billionaires could not stomach what they perceived as a pay off to do business. Fine. Perhaps, they are insightful and see this as the start of Apple losing sells in China, India, UK, US… perhaps. Perhaps, they have no faith that Tim Cook really knows how to run Apple. Perhaps… Perhaps, they looked at the sells of the Apple Watch, its development, its marketing, and decided that other projects may go the way of the watch, good or bad, and decided to put out. Okay. Fine. No problem. They are truly in the business of making money from money. A gut feeling we can work with that too. So …
Let’s all find out together.
Except the SEC is a joke.
Paranoid much?
Yeah people were saying stuff about Blackberry in 2006. I mean it was selling great regardless of what people said. They wee selling MILLIONS and people said they were doomed. What reality did they live in where selling millions meant they were in trouble.
I ignored them. I doubled down.
My stake in AAPL is about 10x what is was (over all on multiple purchases). I’m in it for the long haul.
That said, Tim Cook and company are focusing on the wrong things — AND this site is focusing on the wrong things.
Tim and his team are WAY to focused on Apple, Inc. and AAPL. Apple was doing much better when the management team focused on the products and bringing out products that the customers wowed over and stood in line for days to get. Those days are fading fast because the focus of Tim and his team has shifted.
MacDailyNews is WAY to focused on AAPL and the internal and external politics of Apple (business politics not the commonly thought of politics [contrary to some posters here]). We used to here about everything from products to some great new feature of products to nuances of niche products everyone should be using but are not. That has become a rarity. It’s almost all about AAPL and Apple the business now.
Oh, shit. When will the misery end? Where is the hope? Who will change Apple’s fortunes?
People the market cycle is ending… Apple has the cash to pick up many pieces in the recession we are now seeing unfolding… He who laughs last, laughs best…..how many times since 1984 have we been here….
437
2016 is not going to be a good year for Apple stock. Either you are going long or you are cutting losses now and plan to buy back after next year’s iPhone hits store shelves. No one is making money on Apple until then. It still has a way to go before it hits bottom..
Since the economy is doing better and I’m earning more, I plan to buy more Apple , but not until October 2017 at the earliest.
(I’m a long time apple investor, keep most of my stock even during the 2007 crash until today, and long time apple user… )
My 2 cents:
I do NOT think that Tim Cook is overly obsessed with the stock as some are suggesting,
ALSO I do NOT think that Tim Cook is driven to make the most innovative products. Making great ground shaking widgets isn’t his PRIMARY objective.
yeah as a ‘responsible’ gentleman he’ll do the CEO thing: talk stock around quarterly report time — like with Cramer — talk product doing launches etc
but I see him as ‘running through the motions’ — he isn’t quivering with excitement over products like Jobs, he isn’t spending every spare moment talking up the stock like Bezos (every conveyor belt he buys according to Bezos will eventually pay off your stock investment so look at Amazon’s P.E … )
NO what makes Tim Cook REALLY REALLY EXCITED is SOCIAL WORK.
he keeps telling everyone his two idols (the only pix on his wall ) are Robert Kenendy and Martin L. King (two social activists. ). And that he’s driven by their example.
(he gives clues all the time about it but people refuse to see it).
http://www.businessinsider.com/tim-cook-charlie-rose-interview-human-rights-2014-9
JUST BEFORE the recent quarterly report when he ALREADY KNEW the lacklustre results and potential stock crash HE TOOK TIME TO ANNOUNCE HE JOINED THE KENNEDY FOUNDATION . the foundation is great but you see he wasn’t that concerned about the stock or potentially turning off big investors by apparent lack of urgency or concern about the stock falling from 130 (to now about 90). Joining Kennedy and announcing it was too important.
I’ve paid attention to him over the last few years through crises and he seems blithely unconcerned during them, taking time off to attend to all kinds of social issues.
When the Apple Watch launch was in MAJOR CHAOS, apple had advertised the Apr 24 launch date but had RUN OUT of STOCK before then. yet Apple did NOT make any kind of PR statement or correction, leaving customers and the press in total confusion. People drove for miles to line up for … NOTHING . I was waiting and waiting for PR (being an ex advertising PR guy myself) but ZILTCH. Instead some time later PR released a VIDEO OF THE SAN FRANCISCO GAY PARADE. (look I’ve got nothing against gays, I’m a social liberal, gays never hurt me , I’m just retelling what happened.) PR KNEW what the Boss Liked.
Similarly Apple’s got Ive designing furniture etc for AIDS campaigns WHILE today HP workstations are 6 Times faster in tests than Mac Pros ( A mac pro renders a video in 12 hrs which a HP takes 2 ). Even if you don’t care about Mac Pros and think they are niche, think about Mac book Airs which are supposed to be ‘lighter’ yet have MORE PORTS than a Macbook or Apple TVs that launch with NO remote app, iPad Pro launch with NO pencils etc.
Apple in many instances have LOST FOCUS on products. The urgency isn’t there.
WHAT WE SEE is Tim Cooks real PASSION when he talks SOCIAL WORK — Diversity , Women’s rights, Gay Rights, labour Rights (go watch the videos when he talks about these things and compare his visible excitement when talks about them vs about the STOCK or even products. )
WHAT I’M GETTING AT:
TIM COOKS REAL BELIEF IS THAT ‘INNOVATION’ TODAY IS NOT (NOT !) GREAT PRODUCTS BUT THAT CORPORATIONS SHOULD EVOLVE TO BE SOCIALLY RESPONSIBLE ENTITIES FOR THE GOOD OF THE WORLD.
THAT is the REAL INNOVATION he wants to be his legacy.
To T.C make great products is fine, stock up is good, being largest corp is ok BUT this is NOT of PRIMARY importance to Cook in my estimation. Apple as the Spear Point of Social Change via corporations is.
(look I’m NOT saying this is philosophy is right or wrong. or agreeing or disagreeing. I’m just saying I believe that’s what Tim Cook is trying to do. I can give you a hundred more examples for my argument but my post is too long already).
for people voting me down, I’ve got more time so more things to think about:
— GO COUNT how many PR releases , videos etc Apple has released over the last few years concerning SOCIAL ISSUES (Diversity, Gay Rights, Green Energy, Labour etc) vs the NUMBER OF DIFFERENT MAC ADS.
There hasn’t been a serious new Mac campaign since Mac PC guy which stopped in 2009. Jobs had one NEW Mac ad a MONTH (66 Mac PC guy ads in 4 years) vs ZERO today.
and NOTE: MACS MADE MORE MONEY THAN IPADS last quarter (so it’s not a money loser), it is a major Apple platform, a key component of the eco system yet NO MARKETING. (has anybody EVER seen an iMac or Mac Mini ad at all? Not even CHEAP web ads. When I read MDN i get Dell and Acer ads).
sit back and think about it for a while : More social stuff PR than Mac PR.
There was practically no Mac impetus or marketing right through the golden opportunity YEARS of windows 8 — allowing Msft to recover and move 300 million copies of Win 10.
(like I said before they will study this in Business School as one of the biggest mistakes)
where is the upgradable mac some pros have been clamouring for? (Not one mac today can have it’s video upgraded, upgraded old Macs and Windows Pcs are SEVERAL TIMES faster than Cylinder Mac Pros in GPU tasks)
NOBODY CAN SERIOUSLY TELL ME APPLE HAS AS MUCH PASSION FOR MAC AS SOCIAL WORK TODAY.
…
— Apple has spent huge effort creating State of the Art Solar Energy like in Singapore to power their stores 100% YET the Mac Pro has NO UPDATE for 3 years (like I said one sixth the power of rival workstations now for rendering video),
what I’m saying that Green Energy seems way more important to Apple today than the pro Mac platform.
— 50% of the press said during Apple’s last product event the MOST EXCITING THING WAS LIAM THE RECYCLING ROBOT.
you see solar energy, recycling are NOT BAD things, they are good but Apple is spending it’s perfectionist energy on those vs things like…
— fixing BUGS like Wifi. It took months for PR to even acknowledge it and longer to fix. COMPARE it to Apple making PR announcements within hours of a social issue like new legislation in Gay Rights in a far away state.
— I tend now to agree that Tim Cook doesn’t even seem to vet or use many Apple products personally before launching them. As critics say he would never have launched Apple TV with NO remote app if he had to set up a device himself with passwords etc or approve the Apple Music interface (or launch it with NO GUIDES).
— I’ve read countless stories of Apple SVPs doing charity concerts, Ive building stuff for AIDS auctions etc. But I’ve NEVER read (maybe I missed it? ) about senior Apple management visiting pro Graphics studios , scientific institutions , businesses etc using Macs or Mac User groups, or doing spot checks on their retail partners (I’ve written about how my local Walmart doesn’t even know what Thunderbolt is and does not carry the cables) etc. How do Apple senior management today understand the pulse of their customers today?
look I’m NOT saying Tim cook is stupid or anything (he’s way smarter than I am ) but I am saying his PASSION isn’t the same as Jobs for product perfection.
Jobs did NOT even want a 30th Apple anniversary celebration as it would make Apple LOSE FOCUS on making great FUTURE products….
I just hope T.C uses his intellect to FOCUS on stuff that made Apple great in the first place even as he does his social transformation.
etc.
—
the reason I post this is NOT anti Apple or T.C , I hope that out of tens of thousands of apple workers some person would pass my and other like minded people’s concerns upstream to management. (I also hope to god SVPs in between Attending Fashion shows would SOMETIMES read forums to get the pulse of their most loyal customers).
I bought in 2000 at $22/share. Since then it’s done a 2:1, and a 7:1 split. And nowadays there are dividends. Apple has done great by me. I’ll be keeping my AAPL despite the FUD.
My only regret is that I didn’t buy more in 2000.
Buy low, sell high.
I bet that is what the investor did. They are in it for the money and when you invest billions you will sell to cash in at some point.
I very much doubt he lost money and if he did it was to offset paying taxes on other profits.
Why do I see linkages between lemmings and stock exchange outcomes? Hmm! I prefer to make decisions based on their spread of products and the related features.
Low oil prices are kicking some institutional ass. They must sell the good to cover the bad.
AAPL remains a good long-term strategy for investors, but not necessarily short-term daily traders.
I prefer the long-term strategy.
Don’t bother to report that Warren Buffett just bought a billion dollars worth of AAPL. Nothing to see here!
Which do you prefer?
A) Short term thinking, long term disaster?
OR
B) Long term thinking, long term benefits?
Hmm. Apparently that question flummoxes an amazing number of people, from little old investing Grannies to Behemoth Bankroll Blowhards. Is it cocaine addiction that requires fast turnovers? Is it a culture of immediate gratification? Is it sheeple falling for the wolves’ manipulations. Or is there some other factor I haven’t imagined? Whatever it is, it sure is short-sighted and insipid!
What are they going to do with all that fat trimmed off the Blowhard carcasses? Grease the wheels of industry? I hope so.