This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

$12 Billion Fund Sells Cisco, Buys Apple

NEW YORK ( TheStreet) -- Hedge fund firm Viking Global Investors liquidated its position in networking giant Cisco (CSCO - Get Report) and significantly increased its stake in Apple (AAPL - Get Report).

The $12 billion fund, run by Andreas Halvorsen and David C. Ott, sold its entire Cisco stake of 32,290,800 shares, according to 13F documents filed with the Securities and Exchange Commission. It added an additional 807,300 Apple shares, bringing its total stake in the iPhone maker to just over 980,000 shares.

The fund also initiated a position in Apple component supplier Skyworks Solutions (SWKS - Get Report), with 3,680,200 shares.

Skyworks, one of TheStreet's Breakout Stocks, has a front-end module in the latest version of Apple's iPad. The Woburn, Mass.-based firm has two power amplifier modules within the Verizon (VZ) CDMA version of the iPad 2 and three transit modules in the AT&T (T) iPad 2, according to

Viking Global Investors also increased its position in another Apple partner, Qualcomm (QCOM - Get Report). The fund added 3,393,521 shares in the chip supplier, taking its stake to 6,674,648 shares.

In addition, the long-only fund started a stake in data center specialist Equinix (EQIX - Get Report), adding 762,510 shares, and liquidated its holding in Chinese Internet giant Baidu (BIDU).

Cisco, which recently announced plans to cut 2% of its workforce as part of a long-running restructuring effort, reports its fourth-quarter results after market close today.

Analysts surveyed by Thomson Reuters expect Cisco to report revenue of $11.6 billion and earnings of 45 cents a share, compared to $11.2 billion and 40 cents a share in the same period last year.

TheStreet will be live-blogging Cisco's fourth-quarter results, starting at 3:45 p.m. New York time today:

--Written by James Rogers in New York.

>To submit a news tip, send an email to:

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
CSCO $27.49 0.00%
EQIX $330.35 0.00%
QCOM $50.52 0.00%
SWKS $66.82 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs