Apple Inc. (AAPL) Enjoys Another Record Quarter, Shares Sink; Is This The Golden Entry Point?

What have hedge funds been doing with Apple Inc. (NASDAQ:AAPL)?

Of the funds tracked by Insider Monkey, Carl Icahn’s Icahn Capital LP had the biggest position in Apple Inc. (NASDAQ:AAPL), followed by Ken Fisher of Fisher Asset Management, with around 10.8 million shares valued at $1.35 billion by the end of March; the fund has 2.7% of its 13F portfolio invested in the stock. Some other peers with similar optimism comprise Phill Gross and Robert Atchinson’s Adage Capital Management, Philippe Laffont’s Coatue Management and David Einhorn‘s Greenlight Capital.

As aggregate interest increased, specific money managers have been driving this bullishness. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke, and John Campbell, opened up the largest position in Apple Inc. (NASDAQ:AAPL). Arrowstreet Capital bought around 3.8 million shares of the company during the first quarter. Robert Pitts‘ Steadfast Capital Management also initiated a new position during the quarter by buying around 2.5 million shares. The other funds with new positions in the stock are Benjamin A. Smith’s Laurion Capital Management, Alex Snow’s Lansdowne Partners, and Christopher Medlock James’ Partner Fund Management.

Many leading hedge fund managers like Carl Icahn, David Einhorn, Philippe Laffont, and Ken Fisher continue to hold large positions in the Apple Inc. (NASDAQ:AAPL), which is a clear indicator that they expect the company to grow further in 2015. Considering the fact that the company has posted yet another strong quarterly earnings and the market has had a somewhat unexpected reaction, we recommend buying Apple on weakness, with a rebound expected shortly.

Disclosure: None