Apple: A hedge fund liability?
Once a friend of the hedge fund industry, Apple's stock may have already turned into a foe. With roughly one out of every five hedge funds counting Apple (AAPL, Fortune 500) among their top 10 stock holdings, the recent sell-off in Apple's stock could start cutting into their returns. Shares of Apple have dropped nearly 25% since mid-September, when they hit an all-time high of $705. In a year where hedge funds have been struggling to generate returns, firms with outsize Apple holdings have been among the best performers. Returns for the average hedge fund haven't been pretty. The Dow Jones Credit Suisse Core Hedge Fund Index was up just 2. 37% through the end of the November, according to Goldman Sachs' research.
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David Einhorn
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Brad Balter
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Greenlight
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Company: Apple
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Apple: A hedge fund liability?
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Once a friend of the hedge fund industry, Apple's stock may have already turned into a foe.
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- Apple
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- dan loeb
- david einhorn
- hedge funds
- iPad
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- maureen farrell
- stock markets
- tech
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- third point management
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