Featured Articles

Nvidia Shield 2 shows up in AnTuTu

Nvidia Shield 2 shows up in AnTuTu

Nvidia’s original Shield console launched last summer to mixed reviews. It went on sale in the US and so far Nvidia…

More...
AMD CSO John Byrne talks ARM

AMD CSO John Byrne talks ARM

We had a chance to talk about AMD’s upcoming products with John Byrne, Chief Sales Officer, AMD. We covered a number…

More...
AMD Chief Sales Officer thinks GPU leadership is critical

AMD Chief Sales Officer thinks GPU leadership is critical

We had a chance to talk to John Byrne who spent the last two years as Senior Vice President and Chief…

More...
OpenPlus One $299 5.5-inch Full HD phone

OpenPlus One $299 5.5-inch Full HD phone

OnePlus is one of the few small companies that might disrupt the Android phone market, dominated by giant outfits like Samsung.…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 04 June 2013 11:06

Wall Street continues to turn on Apple

Written by Nick Farrell



Hedge fund dumps more shares

Last year it was mostly the hedge funds which pushed Apple’s share price to unsustainable levels.

However it seems that they are now starting to walk away from Jobs’ Mob no longer believing that the price will rise. Fidelity Investments' Contrafund, the largest active shareholder in Apple Inc, cut its stake in the iPad and iPhone maker by a further nine percent in April after expressing concern about heightened competition from rivals.

Contrafund is run by portfolio manager Will Danoff. It owned more than 9.2 million shares of Apple at the end of April. Danoff already cut his stake by 12 percent during the first quarter so this means that he has dumped a quarter of them. Contrafund is still the largest active shareholder in Apple. Only a Vanguard Group index fund owns more shares.

Apple shares are worth $449.73 on Friday well below the high of $705.07, reached last September and a fraction of the $1000 Wall Street predicted they would be. Danoff recently said investors continue to express concern about Apple's decreasing profit margins and increasing competition from device makers including Samsung.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments