Featured Articles

Snapdragon 400 is Qualcomm’s SoC for watches, wearables

Snapdragon 400 is Qualcomm’s SoC for watches, wearables

We wanted to learn a bit more about Qualcomm's plans for wearables and it turns out that the company believes its…

More...
Qualcomm sampling 20nm Snapdragon 810

Qualcomm sampling 20nm Snapdragon 810

We had a chance to talk to Michelle Leyden-Li, Senior Director of Marketing, QCT at Qualcomm and get an update on…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

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

 

Facebook activity

Latest Commented Articles

Recent Comments