A Look at Five Stocks Trending on Friday: Avis Budget Group Inc. (CAR), Tesla Motors Inc (TSLA) & More

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Count the financial magazine Barron’s as the latest fan of Apple Inc. (NASDAQ:AAPL), which recently introduced the new iPhone 7 and 7 Plus to strong demand. In the article, ‘Apple Stock and iPhone 7 Both Look Like Winners’, Teresa Revas stated that the large number of customers waiting to upgrade from the iPhone 6, Samsung’s recent stumbles, and other factors could potentially provide room for the iPhone to ‘surprise on the upside’. Given Apple’s reasonable forward P/E of 12.9 and around 2% dividend yield, the author thinks investors should stay long. Also helping Apple attain some buzz from investors is CEO Tim Cook’s this week comments  that the company favors augmented reality over virtual reality. Cook’s comments suggest that Apple might be working on some augmented reality software/features in the future. Warren Buffett’s Berkshire Hathaway raised its stake in Apple by 56% in the second quarter to over 15.2 million shares held at the end of June.

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Marvell Technology Group Ltd. (NASDAQ:MRVL) is in the spotlight after SEC filings showed that Jeffrey Smith’s Starboard Value recently raised its position to 6.6% of the shares outstanding from the previous 4% (see more details). Like other semi-conductor stocks this year, Marvell Technology Group Ltd. (NASDAQ:MRVL) has performed well in 2016, with its shares advancing over by 44% year-to-date. Other smart money funds have also been increasing their positions, albeit in the second quarter. According to our data, 38 smart money funds owned shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) at the end of June, up 7 from the previous quarter.

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Although there is some controversy coming out of China over Tesla’s autopilot and its potential role in a previous accident in January, Tesla Motors Inc (NASDAQ:TSLA) showed investors that it is more than just a car company after winning a contract to supply 20 megawatts of energy storage to the utility Southern California Edison to prevent future blackouts. Tesla said:

“Upon completion, this system will be the largest lithium ion battery storage project in the world. When fully charged, this system will hold enough energy to power more than 2,500 households for a day or charge 1,000 Tesla vehicles.”

Many investors believe Tesla’s future is more about manufacturing energy storage solutions than it is about making electric vehicles. A total of 36 funds we track had a bullish position in Tesla Motors Inc (NASDAQ:TSLA) at the end of June, down by three funds from the previous quarter.

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Disclosure: None

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