Apple Inc. (AAPL) Watch Sales Reportedly Weak And May Continue To Be Through 2015

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

Among the hedge funds Insider Monkey tracks, Icahn Capital LP, managed by Carl Icahn, owned the biggest stake in Apple Inc. (NASDAQ:AAPL) in the first quarter, with a $6.57 billion position made up of 52.76 million shares. Fisher Asset Management, led by Ken Fisher, comes in at second with a $1.35 billion position comprised of 10.81 million shares. Other hedgies that are bullish comprise Phill Gross and Robert Atchinson’s Adage Capital Management, Philippe Laffont’s Coatue Management and David Einhorn’s Greenlight Capital.

Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, created the most valuable position in Apple Inc. (NASDAQ:AAPL) in the first quarter of 2015, buying 3.78 million shares worth about $470.04 million. Meanwhile, the hedge fund which dumped the largest Apple Inc. (NASDAQ:AAPL) stake in the first quarter of the year was Benjamin A. Smith’s Laurion Capital Management which said goodbye to 4.63 million shares valued close to $510.56 million. Daniel S. Och of OZ Management was right behind this move, as the fund dumped 1.58 million shares worth about $174.25 million.

With all of these said, and now considering this negative report about Apple Watch sales, we still maintain our recommendation to not buy Apple Inc. (NASDAQ:AAPL) shares at the moment.

Disclosure: None