Portfolio manager Will Danoff, whose $92 billion Fidelity Contrafund is the largest active shareholder in Apple Inc, cut the fund's stake in the iPhone maker 10 percent during the first two months of 2013.Danoff began trimming his Apple stake late last year, but the latest monthly update from Boston-based Fidelity shows deeper cuts in the early part of 2013.Apple shares were down 1.8 percent at $435.35 in Monday morning trading on Nasdaq. The stock is off 38 percent since hitting an all-time high of $705.07 in late September. Rival smartphone makers such as Samsung Electronics Co Ltd have gained broader acceptance from consumers, making life more difficult for Apple.Apple dropped to the No. 2 holding in Contrafund behind Google Inc. Danoff, considered to be one of the best stock pickers among mutual fund managers, has outperformed the S&P 500 by 3.3 percentage points per year over the past 15 years while running Contrafund.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL fell by 1.65% or $-7.29/share to $435.37. In the past year, the shares have traded as low as $419.00 and as high as $705.07. On average, 18913200 shares of AAPL exchange hands on a given day and today's volume is recorded at 6601932.
Google Inc. (Google) is a global technology company focused on improving the ways people connect with information. Shares of GOOG traded higher by 0.56% or $4.412/share to $798.60. In the past year, the shares have traded as low as $556.52 and as high as $844.00. On average, 2349050 shares of GOOG exchange hands on a given day and today's volume is recorded at 831882.
Source
