Why are major hedge funds exiting Apple?
Apple may be the most valuable company in the world today but that has not stopped US hedge fund managers from reducing their stake in the company. With a market capitalization of $750 billion, it is almost twice as valuable as Microsoft or Google. While some of the biggest ETFs of Vanguard and Blackrock continue to hang on to Apple (for obvious allocation reasons), many smart hedge funds are making a rush for the exits. What is the story? Continue reading