Apple Hedge Fund: Is AIG the new Apple Inc. (NASDAQ:AAPL) as far as hedge fund managers are concerned? Well, this is something we covered a few days back and many are still discussing. The answer, to a certain extent, is yes.
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Reuters recently discussed this change at the top in greater detail, adding the following to get everybody caught up:
“The American insurer, bailed out by the U.S. government during the financial crisis, knocked Apple out of the top spot in a list of stocks deemed most important to hedge funds, according to a Goldman report released late Wednesday.”
Of course, this is not a huge surprise to most people. Investors are well aware that Apple Inc. (NASDAQ:AAPL) stock has lost a lot of ground over the past few months.
The report from Gold added the following information:
“For the first time in three years Apple was not the top stock in our VIP list, instead ranking as the third most frequent top-10 holding.”
Although it may not have been a surprise to most, in an overall sense this is something to keep an eye on. After all, Apple Inc. (NASDAQ:AAPL) has been firmly placed in the top spot for the past three years.
If you think back to mid-September 2012, you would have a hard time imagining that this was going to happen. Apple Inc. (NASDAQ:AAPL) shares hit an all time high of $705.07 and things were looking up. However, shares began to tumble soon enough and were down 24 percent by the end of the year.
For more information on this, check out the following article that we published last week:
When you combine this piece with the most recent information from Reuters, touching on the Goldman report, you will have a better idea of what is going on.
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DISCLOSURE: I have no positions in any stock mentioned.
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