As Apple sank, hedge funds bought

The more conservative institutions, by contrast, trimmed their positions last quarter.

Here’s how Apple performed in calendar Q4 2018 (Apple’s fiscal Q1 ’19):

apple sank hedge funds bought

Here, from 10,000 feet, is what the funds did in calendar Q4 (from Whale Wisdom):


Click to enlarge.

That was last quarter. What have the funds been doing during Apple’s calendar Q1 recovery? We won’t find out until May 15, 45 days after the quarter’s end.

For individual fund activity, see: Apple giants: Who bought, who sold last quarter ($).

My take: In the September quarter, these guys were contrary indicators. See As Apple rose, funds dumped. Go figure.

7 Comments

  1. Dan Scropos said:
    I think we’ll find out that Apple bought a lot of Apple, too. I can’t see them purchasing any less than $30 billion in shares this quarter.

    It appears that they’ll have several new products (high-end headphones and air power) and Services (media bundle and original content) rolling out this year. If they can combine that with steadying iPhone sales, continued Services growth of 15%-20%, and aggressive share repurchases under $200, it seems plausible that the stock will see new highs in 2020.

    As we inch closer to 5G, Apple Glasses and Project Titan (hopefully) seeing the light of day, this might be Apple’s last chance at retiring shares under $200. I fully expect them to swiftly move through the remaining ~$65 billion, as well as another $100 billion authorization.

    0
    February 16, 2019
    • David Drinkwater said:
      I wonder how low outstanding share count has to go before the cash neutral policy converts to a cash dividend…

      2
      February 16, 2019

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