According to fund tracker Morningstar, Apple is owned by 4,436 mutual funds, including 2,030 large-blend funds, 1,852 large-growth funds, and seven other fund categories, including, surprisingly, a small-value fund and two small-growth funds, despite its massive market capitalization. Small-cap companies usually have market values of no higher than $2 billion or so.
At any rate, Standard & Poor's analysts have a "strong buy" rating on Apple's stock, Rosenbluth said, and that's not likely to change given the company's strong growth potential, he said.
As for Apple's widespread fund holdings, he said, that's not likely to change either, as Jobs had passed the management baton to new manager Tim Cook, and his succession and its impact at the company had already been factored in to most analysts' and fund managers' outlook for the company. Jobs died Wednesday at age 56 from complications stemming from pancreatic cancer. He had taken several leaves of absence and, therefore, his passing didn't shock investors.
As of June 30, Fidelity Investments was the largest investor in Apple, with a 5.2% stake of its outstanding shares, led by its $68 billion Contrafund (FCNTX). The Vanguard Group of funds, known for its index funds, is the second-biggest investor, holding 3.8% of Apple's shares.The second-largest individual mutual-fund holding in Apple is that of the $137 billion American Funds Growth Fund of America (AGTHX), at 1.25% of Apple's shares.