Hedge Funds Sour on Apple, Root for AIG
Google (NASDAQ:GOOG) has come in second, with Apple filling in position number three.
11 percent of hedge funds held Apple as a top 10 position as of December 31st. This is a decrease from 19 percent that held their stock in the previous quarter, according to Barron’s.
The movement shows that hedge funds seem confident in AIG’s ability to recover well from the economic crisis that could have killed them, were it not for a generous government bailout.
Some analysts are still unsure, though. Stephanie Link, from TheStreet, told CNBC’s Fast Money that she would be a buyer, but not just yet.
“I just don’t like when everyone likes a stock. Number one, expectations are very high. Number two, in terms of cash distribution. Everybody thinks they’re going to announce a buyback, a dividend, whatever that is. They will down the road. They can’t right now – the regulators won’t let them,” she said. Link also noted that she will likely get a better price later on.
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