Within the last few months a few major investors have made the news by dumping huge blocks of Apple stock shares over various issues.
The first investor to make the news by dumping most of his Apple stock was billionaire Carl Icahn, who blamed Apple’s tepid relationship with China has the basis for selling his stake in Apple. The second high-profile investor, billionaire David Tepper has come forward by dumping his entire share of Apple as well–that’s a cool 1.26 million shares. Lastly, David Einhorn of Greenlight Capital has also been dumping shares of Apple for awhile. There will most likely be more investors dropping shares in Apple as the share price falls to new lows amid concerns with China, slow iPhone and iPad sales and lack of diversification in other markets.
The worry sets in over Apple’s future and Apple Stock
Investors are growing more worrisome over the decline of apple shares, as they dipped below $90 a share for the first time in two years. The current market valuation for Apple is about $494 billion. Once again, Google‘s parent company, Alphabet, topped Apple as the world’s most desired brand with its market cap of about $498 billion. The two companies have been sparring back-and-forth lately trying to capture this coveted spot. Nobody can predict if Apple’s recent $1 billion investment into a Chinese ridesharing service will help bring investors back. As we mentioned in a recent article, Apple needs to change quite a few things to continue its status as an innovative and progressive technology company.