Apple Trades Vary

Chidem Kurdas

DE Shaw is among the hedge funds with large holdings of Apple stock.  The change of  guard inpired some fast trades. Short-term traders may have sold Apple in anticipation of a market move right after the announcement.  But many  funds are likely to wait and see if there are signs of a falloff in the company’s performance. Steve Jobs has been on leave for some time and his stepping down from the CEO position is not really a surprise.

Apple appears to be a favorite. Steven Cohen’s SAC Capital held options in addition to more than $200 million worth of  Apple shares. DE Shaw held close to $1 billion—not a large percentage as part of a $34.4 billion equity portfolio, but still a lot of shares.

 One obvious reason Apple is prominent in fund portfolios is that it is prominent in the market—-having recently surpassed Exxon in market cap.

Advertisements

Tags: ,

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: