Apple Inc. (AAPL), Yahoo! Inc. (YHOO) & More: This Week in Tech

Twitter Inc (NYSE:TWTR) bulls are pretty happy after shares of the “What’s Now” social media company soared 18.3% for the week. All of the gains and then some came from Friday’s price action after it was revealed by CNBC that the company is ‘moving closer to a sale’, with several tech giants such as salesforce.com, inc. (NYSE:CRM) and Alphabet Inc (NASDAQ:GOOG) rumored to be among potential bidders. The smart money was a little more bullish on Twitter Inc (NYSE:TWTR) in the second quarter, as the number of funds tracked by us with holdings in Twitter Inc (NYSE:TWTR) rose by three quarter-over-quarter to 30 at the end of June.

Similar to Yahoo, Facebook Inc (NASDAQ:FB) found itself in some hot water after the social media company disclosed that it had inadvertently overestimated the average time users watched videos on its platforms for around two years. The average time watched was artificially higher by around 60%-80% due to engineers only factoring in views of videos of over three seconds when doing the average time calculations. Although the inflated metric did not affect billing, some advertisers aren’t happy, and traders sold Facebook off on Friday to the tune of 1.6%. Friday’s drop caused Facebook, which has historically shown admirable relative strength, to inch lower by 0.86% for the week.  According to our data, Facebook Inc (NASDAQ:FB) was one of the most widely held stocks among the smart money set at the end of the second quarter, with 148 funds reporting long positions.

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