Why Apple, IBM, AMD, Goldman Sachs & Metlife Are All Tumbling Today

Next up is International Business Machines Corp. (NYSE:IBM), down by over 5.5%. After the market closed on Tuesday, the Big Blue reported earnings of $4.84 per share, above the Street’s consensus of $4.76 per share. On the other hand, revenue of $22.06 billion fell slightly short of expectations for $22.23 billion. Management said the disappointing sales were driven by a strong U.S dollar and weak IT spending.

In this case, Berkshire Hathaway is not one of the largest institutional investors, it is the largest, with more than 81.0 million shares as of September 30. But it is not only Mr. Buffett that’s bullish on International Business Machines Corp. (NYSE:IBM); over the third quarter, the number of funds in our database with long positions in the company rose by 6.7%, to 63.

Shares of Apple Inc. (NASDAQ:AAPL) are also trading down, by about 2.4%, today. The drop was probably driven by the publication of a UBS survey, which showed slowing sales of newer model iPhones in the fourth quarter, as older models of the iPhone gained popularity. “There has been concern that consumers are less enthusiastic about the feature and performance gains with the latest iPhone 6s/6s+ models. Indeed, more consumers appear to be opting for last year’s iPhone 6 models that are priced $100 lower,” the report stated. The company’s actual results for the quarter will be announced on January 26.

Apple Inc. (NASDAQ:AAPL) also counts a famed institutional investor as one of its top champions: Carl Icahn. His fund, Icahn Capital LP declared holding 52.76 million shares of the largest publicly-traded company in the world, which is, by the way, losing popularity among funds in our system. Over the third quarter of 2015, the number of funds in our database long the tech behemoth fell by 7.6%, to 133. While it was the second-most popular stock among funds at the end of the third quarter, the 133 firms mentioned above hold only 2.8% of the company’s total shares.