Hedge funds hate Apple but love Facebook

Hedge funds hate Apple but love Facebook

Warren Buffett has finally taken a bite out of Apple's stock.

The Oracle of Omaha's Berkshire married woman bought a stake in Apple throughout the initial quarter, its first investment ever in Apple.

But several massive hedge funds are commercialism the maker of iEverything. They've fallen in love with Facebook  instead.

According to two separate reports from FactSet analysis and S&P international Market Intelligence, Apple  was the most sold stock by hedge funds throughout the primary quarter.

The selling was light-emitting diode by Carl Icahn, who drop his entire stake in Apple in the half-moon.

Prominent hedge funds Renaissance Technologies and Coatue Management were conjointly massive sellers of Apple.

But did these questionable masters of the universe offer up on Apple too soon?

Since hitting a 52-week low in time period, shares of Apple have bounced back nearly 7%.

And Apple has reclaimed the title as world's most valuable company from Google parent Alphabet thanks to its recent rebound.

Alphabet is actually a darling of borough, Connecticut -- the unofficial capital of the hedge fund world. It was the third most added stock by hedge funds within the quarter, according to S&P. Mobile chip giant Broadcom (BRCM) was range a pair of.

But each Apple and Alphabet might have to watch their back for Facebook.

Hedge funds can't appear to get enough of the social network. The top fifty funds bought quite $3 billion value of Facebook's shares throughout the primary quarter, according to FactSet.

Viking international Investors non heritable the biggest chunk, but big hedge fund fastness conjointly scooped up some Facebook. And Facebook is the top holding of Coatue.

1.