This Hedgie Sold A Bunch Of Apple (AAPL) And Put It Into These Tech Stocks

In Google Inc (NASDAQ:GOOGL), Hariharan and his fund took a new stake in the first quarter of 60,800 shares with a value of $33.32 million in Google’s Class C shares, while also increased his position in the same company’s Class A shares by 33% to 100,000 shares with a value of $55.47 million. To be clear, Google’s shares were subject to a split last spring, into voting-right and no-voting-right shares, where the Class C “GOOG” shares are the one that don’t have any voting rights, while the Class A shares (primarily held by Google’s upper management) do. Google has been having a relatively slow spring on the stock exchange with its Class C shares returning just over 2% year-to-date, as investors appear to be waiting for Google to do something big with some of its cash reserves. On June 11 it was revealed that Google had increased its stake in startup language teacher Duolingo by another $45 million. Duolingo, being very successful in acquiring users for its apps with 100 million total , 66% higher than in January 2014, is indeed a company in line with Google’s educational accessibility focus. Andreas Halvorsen from Viking Global also seems quite bullish on Google Inc (NASDAQ:GOOGL), increasing his stake in its Class A shares by 121% to 1.64 million shares with a value of $908.85 million, and opening a new position in its Class C shares of 841,187 shares valued at $460.97 million.

Even if NWI Management decreased its stake by 20%. it still holds 929,250 shares in tech giant Apple Inc (NASDAQ:AAPL), with a value of $115.63 million. As we covered last week, Apple is about to become major competition for Spotify with its launch of Apple Music, though analysts and the markets did a collective yawn at the revelation. Analysts remain skeptical regarding the profitability of the music market while admitting that it’s at least possible Apple can utilize unique tie-ins and build up its ecosystem. Apple, which is up by 15.61% so far this year, is also rumored to be working on new Watches already, despite the current versions barely being out of the warehouses and onto wrists. It will interesting to see whether that revelation and the general consensus that the next version will be much better, will have an impact on sales of the first Watch. Apple Inc (NASDAQ:AAPL)’s largest shareholder in our database remained Carl Icahn, owning 52.76 million shares with a value of $6.5 billion.

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