• Home
  • Apple
  • News
  • Big Hedge Funds Fueled Apple’s Late 2012 Stock Plunge

Big Hedge Funds Fueled Apple’s Late 2012 Stock Plunge

Big Hedge Funds Fueled Apple’s Late 2012 Stock Plunge

Some of the big hedge funds that made Apple a superstar in the market lost their infatuation with the company, and dumped the stock in the fourth quarter of 2012, fueling the huge drop in the iOS device maker’s share price.

1980 Apple Stock Certificate

Reuters:

Noted stock pickers including Leon Cooperman and Thomas Steyer unloaded billions of dollars of Apple shares between Sept. 30 and Dec. 31, according to disclosure documents filed on Thursday.

Shares of Apple hit an all-time high of $705.07 on September 21, but ended the year down more than 24% from its peak, as concerns about increasing competition and declining profit margins weighed.

Those that unloaded in Q4 avoided deeper losses, as Apple’s shares have dropped 12% this year.

According to its required quarterly disclosure form filed with the Securities and Exchange Commission, Cooperman’s Omega Advisors fund dumped its entire stake of more than 266,000 shares during the fourth quarter,

Farallon Capital, the hedge fund founded by Steyer, sold 137,000 shares. Steyer stepped down at the end of the year from the firm, which he founded in 1986.

Jana Partners also unloaded its entire Apple portfolio of more than 143,000 shares.

Prominent hedge fund manager David Einhorn announced on February 7 that he was suing the company to get it to deploy its $137 billion cash hoard more effectively and halt a 35% drop in its share price from the record high in September. Einhorn’s fund, Greenlight Capital, has a stake in the company worth about $600 million.

Not all hedge funds completely cut all ties with Apple in the fourth quarter, some merely trimmed their holdings.

Coatue Management, sold about 18 percent of its Apple holdings, ending the year with a still sizable 643,000 shares.

The Tiger Management LLC fund trimmed 28% from its Apple stake, down to about 42,000 shares.

  1. 759429 659089Spot up for this write-up, I seriously believe this web site needs a whole lot a lot more consideration. Ill apt to be once more to learn additional, appreciate your that info. 245839

  2. Pink Runtz says:

    680486 211273Some truly good stuff on this web site, I really like it. 92424

  3. 879890 26826You produced some respectable points there. I looked on the internet for the issue and found many people will go along with together with your website. 259697

  4. eco-grzanie says:

    539778 923188I discovered your weblog web site on google and check a couple of of your early posts. Continue to maintain up the quite good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading a lot more from you later on! 99135

  5. 235186 762379Its excellent as your other posts : D, regards for posting . 89725

  6. 21452 266925Generally the New york Weight Loss diet is undoubtedly less expensive and flexible staying on your diet scheme intended for measures even so fast then duty keep a nutritious every day life. weight loss 421086

  7. 807678 852580Hey there! Fantastic stuff, please do tell us when you post again something related! 808621

  8. 700331 721024Basically received my very first cavity. Rather devastating. I would like a super smile. Searching a lot much more choices. Many thanks for the write-up 556620

  9. 975541 443261Most suitable boyfriend speeches, or else toasts. are almost always transported eventually by means of the entire wedding party and are still required to be quite intriguing, amusing and even enlightening together. best mans speech 380415

  10. 539025 440232I dugg some of you post as I thought they were handy extremely beneficial 719973

  11. sbobet says:

    251624 603828You completed several excellent points there. I did specific searches on the problem and identified a lot of people go in conjunction with along together with your weblog. 608029

Leave a Reply

Your email address will not be published.