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This Week in Tech: Apple, Tesla, Yahoo, and More

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Given the accelerating rate of change in technology, there is rarely a dull moment in the tech sector and this week was no exception. In this article, we will take a look at the most relevant news concerning some of the giants in the industry such as Apple Inc. (NASDAQ:AAPL), Alphabet Inc (NASDAQ:GOOG), Tesla Motors Inc (NASDAQ:TSLA), Yahoo! Inc. (NASDAQ:YHOO), and AT&T Inc. (NYSE:T). We will also use 13F data to see how elite funds are positioned in each of these stocks.

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Apple Inc. (NASDAQ:AAPL), Logo, Sign on a building, brand, company, architecture

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Tesla Motors Runs Into Some Negative Rumors

Tesla Motors Inc (NASDAQ:TSLA) ran into some turbulence after Bloomberg reported this week that the U.S. National Highway Traffic Safety Administration is examining a potential suspension issue in Tesla’s Model S vehicles. The article said that the agency is asking for additional information from Tesla and from Model S owners. Tesla promptly responded that the article might not be true, saying that “there is no safety defect with the suspensions in either the Model S or Model X,” and that the “NHTSA has not opened any investigation nor has it even started a “preliminary evaluation,” which is the lowest form of formal investigatory work that it does.” Tesla also hinted that shorts may have something to do with the rumors, citing the billions of dollars being bet against the company.

Tesla Motors Inc (NASDAQ:TSLA) has adjusted its policies after the report, however, by revising its nondisclosure agreement with customers to allow them to report suspected safety issues to the relevant agencies. Tesla is no stranger to controversy and has a very ambitious goal of producing 500,000 vehicles per year by 2018, two years earlier than its previous target. For the company to achieve its aims, it will need to win the PR war against the naysayers to ensure demand for its electric vehicles remains strong. 39 top funds in our system owned shares of Tesla at the end of March.

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Yahoo! Catches a Bid

Yahoo! Inc. (NASDAQ:YHOO)‘s core properties caught a healthy bid this week after Bloomberg reported that AT&T Inc. (NYSE:T) along with Dan Gilbert, the owner of the Cleveland Cavaliers, each bid around $5 billion for Yahoo’s core business, real estate, and patents. That’s higher than what some bears estimated last week. A third bidder, Verizon Communications Inc. (NYSE:VZ), has offered between $3.50 billion and $4.00 billion solely for Yahoo’s core business. The sale of Yahoo’s core properties could help narrow the gap between the company’s stock price and its intrinsic value as a holding company. 97 top funds in our database owned shares of Yahoo! Inc. (NASDAQ:YHOO) on March 31, while 51 were long AT&T Inc. (NYSE:T).

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On the next page we’ll check in on the battle between Apple and Alphabet last week, and show the weekly performance of all five companies featured in this article.

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