Did somebody yell ‘Fire’? The
real panic on Wall Street is over Apple's stock.
From CNBC: Nearly every mutual and hedge fund has piled into
Apple during its spectacular rise over the past few years. Now, these same
funds are scrambling for the exits as the stock goes through an equally
spectacular decline.
Apple plunged to a six-month low Thursday as funds rushed to
take profits on the stock before it’s too late. Shares are now off 25 percent
since late September—shortly after the iPhone 5 launch and a month before the
iPad Mini introduction. The stock, once up
74 percent on the year, is still up 30 percent for 2012. That's why Wall Street
is getting out while it can....
More than 800 hedge funds and mutual funds counted Apple
among their top ten holdings at the end of the third quarter, according to data
from Insiderscore.com….
More? Check out http://www.cnbc.com/id/49842457
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