Now, key hedge funds have jumped into Apple Inc. (NASDAQ:AAPL) headfirst. Coatue Management, managed by Philippe Laffont, created the most outsized position in Apple Inc. (NASDAQ:AAPL). Coatue Management had $735 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $623.8 million position during the quarter. The other funds with brand new AAPL positions are Aaron Cowen’s Suvretta Capital Management, Dan Loeb’s Third Point, and Lee Ainslie’s Maverick Capital.
Let’s go over hedge fund activity in other stocks that are similarly valued. These stocks are Alphabet Inc (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT), and Exxon Mobil Corporation (NYSE:XOM). This group of stocks’ market caps are similar to AAPL’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 114 hedge funds with bullish positions and the average amount invested in these stocks was $12.5 billion. That figure was $16.2 billion in AAPL’s case. Alphabet Inc (NASDAQ:GOOGL) is the most popular stock in this table. On the other hand Exxon Mobil Corporation (NYSE:XOM) is the least popular one with only 59 bullish hedge fund positions. Compared to these stocks Apple Inc. (NASDAQ:AAPL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio. We should note that this isn’t a universally shared opinion. Today one of our writers published an article that listed 8 reasons why Apple is doomed.