Apple Inc. (AAPL) & Other Stocks that Lose Billionaire Investors’ Support

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Micron Technology, Inc. (NASDAQ:MU) experienced a considerable loss of interest from billionaires during the April – June trimester as the number of those invested in the company reduced to 11 from 15. Consequently, the total value of their holdings slid to $1.73 billion from $3.66 billion in the same period. Micron Technology, Inc. (NASDAQ:MU)’s stock has cratered by more than 57% so far this year. However, David Einhorn hasn’t given up on the company and instead increased Greenlight Capital’s holding in Micron by 14% during the second quarter to 37.95 million shares valued at $714.97 million. In his letter to the investors for the same quarter Einhorn pointed out that the excess DRAM inventory is being absorbed and the stock is being oversold on fears of supply glut which are overplayed, but provide an enticing investment opportunity (see more details).

 

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At the end of the April-June quarter only 10 billionaires had total investments worth $3.19 billion in Mondelez International Inc (NASDAQ:MDLZ) down from 14 high net worth individuals holding $4.06 billion in shares at the end of the first quarter. The lack of enthusiasm has precipitated despite an almost 18% surge in Mondelez’s stock price during the second quarter. Bill Ackman is one of the billionaires who is bullish on the company as he acquired some 120.27 million shares of the snack food and beverage company. In a recent interview on CNBC Ackman laid out his bullish thesis and touched upon the potential for the company to significantly improve its margins in the future.

 

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Another Chinese company on this list is the $47.48 billion Chinese-language internet search provider Baidu Inc (ADR) (NASDAQ:BIDU). A total of 11 billionaires held the company in their respective fund’s equity portfolios at the end of June, a decrease of six from the end of March. The aggregate value of these investments fell to $1.43 billion from $3.09 billion held in shares. Baidu Inc (ADR) (NASDAQ:BIDU)’s stock price has tumbled by about 41% on a year-to-date basis. Andreas Halvorsen’s Viking Global cut its stake by 48% during the second quarter to 1.29 million shares of Baidu Inc (ADR) (NASDAQ:BIDU) valued at $255.91 million.

 

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Disclosure: None

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