Apple Inc. (NASDAQ:AAPL), the most valuable company in the world accomplished a new milestone recently, it crossed the $700 billion mark, which was also the first time for any public company. However, there are two more milestones before the real party begins. Yes, I am talking about the $1 trillion valuation.
While discussing the future prospects of Apple Inc. (NASDAQ:AAPL) on Bloomberg, Joseph Ciolli mentioned the hedge fund managers who stand to gain most from the trust that they have reposed in the technological giant. The two foremost names in this category are Carl Icahn of Icahn Enterprises LP (NASDAQ:IEP) and David Einhorn of Greenlight Capital.
“[…] We have Carl Icahn. Apple Inc. (NASDAQ:AAPL) is his second biggest holding We have David Einhorn of Greenlight Capital who has actually said in public that he wants more buybacks and has actually trimmed his holdings in Apple, but it is still his second biggest holding. So, even people who are trimming their exposures still own it. It is in any reasonable portfolio managers book right now […],” said Ciolli.
This quarter is going to be huge for Apple Inc. (NASDAQ:AAPL) given that the Christmas season is just around the corner, and let’s face it, right now the hottest gadgets in the market are the new iPhones. Of course, there are the new iPads as well, but the jury is out on that product. It is felt in the tech community that the tablets didn’t have anything mind boggling to offer, and the new iPhones with larger screens make them sort of redundant.
Hence the money is riding on iPhone sales during Christmas to nudge Apple Inc. (NASDAQ:AAPL) a step closer to the trillion dollar mark. The stock was trading at $119 today when the closing bell rang which totalled to a market cap of $691.84 for the tech company.
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