That sale represented half of the foundation’s Apple holdings. Its $50 billion portfolio has another 1 million shares left over.
The Bill & Melinda Gates Foundation Trust, which manages the funds of that foundation, exited positions in Alibaba Group Holding (ticker: BABA) and Uber Technologies (UBER), halved its stake in Apple (AAPL), and increased an investment in Schrodinger (SDGR) in the fourth quarter. The trust disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission…
Apple stock had a boffo 2020, jumping 80.8%, but so far in 2021, it has slipped 2.1%.
There is widespread speculation that Apple is working on a car. Reportedly, talks with Hyundai as a partner haven’t yet resulted in an agreement. Apple crushed estimates when it reported fiscal-first-quarter numbers at the end of January.
My take: Rebalancing act.