Morgan Stanley analyst Katy Huberty writes that institutional ownership of AAPL stock was largely flat quarter-over-quarter exiting calendar Q121. Huberty’s data indicates that institutions are still underweight on Apple shares, despite an 81% stock appreciation throughout 2020.
Mike Peterson for AppleInsider:
Huberty adds that Apple’s weighting in the S&P 500 index remained “relatively stable” compared to the previous quarter at 6.7%. Because of that, the spread between Apple’s S&P 500 weighting and its institutional ownership level was flat at 125 basis points. That’s the widest margin since the third quarter of 2018.
The analyst believes that implies institutions are still underweight on AAPL shares, despite an 81% stock appreciation throughout 2020…
Huberty still believes that Apple is well-positioned to benefit from four different market trends. That includes the growth of 5G adoption for the iPhone; continued demand from remote education and work trends; the proliferation of wearable devices like the Apple Watch; and the increasing market share and monetization of services.
MacDailyNews Take: Huberty also reiterated her AAPL price target of $164. Take advantage of the dips.
Agree with MDN. If it’s true that apple is going to buy back around 150M shares, this will tighten up the market on apple shares a great deal.
Tim Cook put a curse on Apple when he made Apple the biggest Big Tech Censor for the State. The exact opposite of everything Steve Jobs intended for Apple, going back to the December 31, 1983 commercial “1984”. In that commercial Apple sought to free mankind from Big Brother. Now, Apple pisses on mankind and does the dirty work for Big Brother. Apple stock is now cursed and it goes down every day. And it will continue as long as Tim Cook is there and maintains his partnership with Evil.
Apple Inc. (AAPL)
NasdaqGS – NasdaqGS Real Time Price. Currency in USD
122.56. -2.79 (-2.23%)
As of 1:20PM EST. Market open.
Another day of huge downward freewill for Tim Cook led Apple. The Tim Cook Curse is here as long as State Censor Tim is in charge.
FREEFALL.
Good https://macdailynews.com/