Second Investor Dumps Shares as Apple Stock Drops to Near Two-Year Low

[MacRumors]

Hedge fund billionaire David Tepper has sold his entire stake in Apple, according to a filing with the Securities and Exchange Commission (via Business Insider UK).

Tepper's 1.26 million shares in the company were last valued at around $133 million, according to data from Bloomberg. The massive sale of Apple shares is the second reported in as many months, after billionaire Carl Icahn dumped his stake in the company earlier this year based on worries over China's attitude towards the tech giant.

Since August 2015, 146 of the 833 hedge funds tracked by Goldman Sachs had Apple as one of their largest positions, earning it the number two spot on Goldman's list of stocks "most loved" by hedge funds.

But Apple shares have been on the decline since last month's earnings call, where the company announced its first ever drop in iPhone sales and its first year-over-year revenue drop in 13 years.

Two days ago, shares of Apple fell below $90 for the first time in nearly two years amid investors' concerns over slumping sales. Apple's stock price fell 3.3% to $89.47 during Thursday afternoon trading, leaving its market valuation at $494 billion. At the same time, Google's parent company Alphabet briefly overtook Apple as the world's most valuable company, hitting a market cap of $498 billion.

Article Link: Second Investor Dumps Shares as Apple Stock Drops to Near Two-Year Low

 

[Gildarts]

The SEC file in the original article doesn't mention Apple/AAPL at all...

Edit:

SEC form only shows he bought the Valeant shares. In any case it seems he has dumped his shares a long time ago.

 

[Crosscreek]

Apple innovated to many watch bands and neglected their once core business of computers.

Stale designs and old hardware. 5400HHD WTF

 

[iamnotme]

I find investing fascinating..... What I find even more fascinating is how much panic you can create so easily that causes people to start dumping shares. I am not an economist or mathematician but up and downs are completely inevitable. You an't sustain significant growth indefinitely. Since most of apple's revenue comes from the iPhone it had to happen sooner or later because there are only so many people with smart phones and let's be honest, the update from year to year is so insignificant that it just doest warrant you to get out and grab a new one. Except of course for the enthusiasts.... I'm actually hoping it will slip more so I can buy more of it because it will be back. Every few years there is a significant breakthrough in technology that pushes it back up.

 

[Shirasaki]

We are on a world which everything is starting collapsing?
And, Apple may save themselves if they can solid their OS X and iOS, and tvOS, and watchOS.
Plus introduces upgrades to Macs, and introduce killing features on iPad, and iPhone.
Wait, sounds like too many things waiting for Apple to do? Let's rush iOS 10 with 1000 bugs and 200 new features, and release iOS 10.9.9 to fix all of them!

 

[Mac Fly (film)]

He sold at end of 2015. It was only 'spotted' now for obvious reasons. To try to drive stock lower so he can either buy back in or so his friends can. AAPL shares have been up and down like this for several years now. All ******** manipulation from the institutions. When it dropped from $700 to ~$400 it was completely unwarranted. Apple were doing very well at the time. Wall St. is driven by greed pure and simple. Since the housing crisis many people should have gone to prison, but politics in US is too corrupt now and your TV media is along for the ride. The empire is dead.

 

[TC03]

Good. Let the hysteria take its toll on the stock price. Only means getting some Apple stock will be more profitable when it turns out the iPhone is actually doing fine.

 

[Mac Fly (film)]

Good. Let the hysteria take its toll on the stock price. Only means getting some Apple stock will be more profitable when it turns out the iPhone is actually doing fine.

If you assume Apple's stock price has anything to do with how well they are doing. It's largely down to the narrative Wall St. wants to tell.

 

[Crosscreek]

People have lost faith in Apple's ability to innovate. Investors want to see a roadmap.

Tim just can't say "everyone will need one". That line does not work anymore.

 

[H2SO4]

AAPL shares have been up and down like this for several years now. All ******** manipulation from the institutions.

Yep, but I’m pretty sure that Apple take full advantage when the projections, speculation and movement suit them. You can’t have it both ways. Not just with their own company either.

 

[maflynn]

The only thing I hope for, is that Apple focuses on its business and innovation and less about its stock price, or who buys it. If you start worrying about the price of the stock, you take your eyes off of what got you there in the first place.

 

[H2SO4]

The only thing I hope for, is that Apple focuses on its business and innovation and less about its stock price, or who buys it. If you start worrying about the price of the stock, you take your eyes off of what got you there in the first place.

Here, here. They need to focus on what makes me pay over the odds for their products whether I need to or not. I have the money and I’m ready - just don’t like being ripped off.
At the moment it seems like they’re nickel and diming everyone.

 

[Textime]

If people get bored time by time from iOS and Android, is then there any hope for Blackberry? I mean it's now an exotic phone and people want always to try something different. Me for myself I'm tempted by Blackberry 10.

 

[2010mini]

Well if the price comes down enough I will be able to get shares closer to a price I can afford. We all know the price will rise again soon.

 

[Wowereit]

Closer to a price you can afford?
That doesn't make sense, as long as you aren't talking about a single share.

 

[newdeal]

Well if the price comes down enough I will be able to get shares closer to a price I can afford. We all know the price will rise again soon.

the price isn't rising, this is just the beginning. iPhone saturation is a real thing. China and India are their only possible saviours (for the stock price that is) and they are failing hard in India. I think they will do fine in China if the economy turns around there soon

 

[Piggie]

I still don't understand how Tim Cook can decide to fit 5400 rpm physically spinning hard drives in $1000+ computers, and then turn around and say "We at Apple are committed to making THE BEST computers that we physically can"

This is what annoys me about him. He's not a tech guy, he has no idea, and just looks smug and lies thru his teeth to the public hoping most are too dumb to realise.

I'd actually love Apple to collapse in some ways so they got rid of these marketing idiots and got back to the core of their company and dumped all the old junk and REALLY made things the best that can like they pretend to now.

 

[Ishayu]

I still don't understand how Tim Cook can decide to fit 5400 rpm physically spinning hard drives in $1000+ computers, and then turn around and say "We at Apple are committed to making THE BEST computers that we physically can"

This is what annoys me about him. He's not a tech guy, he has no idea, and just looks smug and lies thru his teeth to the public hoping most are too dumb to realise.

I'd actually love Apple to collapse in some ways so they got rid of these marketing idiots and got back to the core of their company and dumped all the old junk and REALLY made things the best that can like they pretend to now.

Absolutely. The Mac is garbage right now. I lose the OS's design and all that, but their hardware... it's just so slow. iPad's are catching up to it, and you can now buy computers in the $600 range that are faster than Mac Pros. Not cool. Not cool at all.

The 5400 RPM harddrive is also a great example. I dunno what the **** went through the minds of the people who put that in.

 

[TC03]

If you assume Apple's stock price has anything to do with how well they are doing. It's largely down to the narrative Wall St. wants to tell.

Well it has. Stock price declined when Apple missen their guidance.

 

[Mactendo]

Apple shares were beautifully, unapologetically cheap. We thought how we could improve the experience? How we can make it better? And we found the intuitive and revolutionary solution: dumping it. Dumping shares is like magic. All of a sudden it makes your wallet so beautifully thick and round. Just look at it. There's nothing more beatiful in the world than that. It's our best product yet. Revolutionary. Magical.

 

[Wowereit]

This is what annoys me about him. He's not a tech guy, he has no idea, and just looks smug and lies thru his teeth to the public hoping most are too dumb to realise.

That's the point.
I don't think he even knows, he gets his Power Point from his assistant listing some hardware specs and that's it.
He's reading what's there. What does it mean? No clue, but hey it's great.

 

[JosephAW]

Someday when Apple's stock is back down to $14.95 a share and Cook is gone and all the social & political correctness is purged too bad their can't be a "third coming" of Steve Jobs.
Maybe it can thru someone like Woz but I doubt it.

 

[Mildredop]

Ok, stupid question. He had 1.26m shares which he suddenly decided he wanted to sell. What happens if no-one wants to buy them? How come, at a time aapl shares are dropping so much, there are enough buyers out there to buy up all 1.26 million of them?

 

[Adithya007]

I bet these people are doing the same mistake that Ron Wayne did during the birth of Apple.

 

[gnipgnop]

Absolutely. The Mac is garbage right now. I lose the OS's design and all that, but their hardware... it's just so slow. iPad's are catching up to it, and you can now buy computers in the $600 range that are faster than Mac Pros. Not cool. Not cool at all.

Intel is essentially exiting the PC business because they're reached a technological impasse with increasing CPU speeds in any significant way using current fabrication methods. Keep that in mind in regards to things being "too slow". Also, the fact that Apple can now exceed the CPU performance of many contemporary Intel mobile processors with their A series chips is not exactly a negative for the company.
[doublepost=1463228554][/doublepost]The guys that are in control of hedge funds make big bucks, but most of the investors in those funds don't...that should tell you something.