3 Tech Stocks That Hedge Funds Are Buying
Apple
Apple makes the most frequent appearance among hedge funds used to generate Goldman Sachs' list, appearing as a top-10 holding 113 times, and 150 times among hedge funds with 10 to 200 positions. Shares of the Cupertino, Calif.-based maker of the iPhone account for an average portfolio weighting of 8% among those top 10 holdings.
Apple shares have been a stalwart this year, gaining 62%, far outpacing the 18% gain in the Nasdaq. Even though Apple missed analysts' estimates in the third quarter, investors are excited about the iPhone 5 and potential iPad Mini, expected to be released in September.
What We Know About the iPhone 5 Apple recently became the most valuable company ever, surpassing Microsoft, which set the mark at the height of the dot-com boom in December 1999.Select the service that is right for you!
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