Here’s Why Apple, Tesla, and Three Other Stocks Are Trending

Apple Inc. (NASDAQ:AAPL) is trending after Bloomberg reported that India isn’t necessarily inclined to grant generous concessions such as softening local sourcing regulations to Apple so that the company can produce iPhones in the country. With President-elect Trump asking Apple Inc. (NASDAQ:AAPL) to bring more manufacturing back home and Chinese wages steadily trending higher, Apple’s iPhone labor manufacturing costs could increase if the company does not find adequate adjusting mechanisms. Given that the labor for assembling the iPhone is just a small fraction of the total bill, Apple’s gross margins won’t be too affected though. Ken Fisher’s Fisher Asset Management owned more than 11.3 million shares at the end of September.

In other tech company news, Tesla Motors Inc (NASDAQ:TSLA) is down 2% after the company reported deliveries of around 76,230 vehicles, and production of 83,922 cars/SUVs for 2016. Although Tesla’s production of 24,882 vehicles in the fourth quarter of 2016 was 64% higher than the comparable quarter of 2015, some traders were expecting higher numbers. According to our records, 34 top funds owned shares of Tesla Motors Inc (NASDAQ:TSLA) at the end of September, down 2 funds from the previous quarter.

Wrapping our coverage of trending stocks is Shake Shack Inc (NYSE:SHAK), whose shares climbed 4.48% in extended market trading on the news that it will replace Chemours in the S&P 600 index. Given that any index inclusion means some buying from certain funds, some traders are trying to front-run. Whether all of the news has been priced in is unknown, however. 11 top funds had a bullish position in Shake Shack Inc (NYSE:SHAK) at the end of September, down 3 funds from the previous quarter.

Disclosure:None