updated 09:00 pm EDT, Mon August 26, 2013
Google still king of mutual funds; upcoming iOS launches deemed key
On top of the long-awaited upward trend in AAPL in recent weeks, hedge-fund investors have begun returning to Apple for investments as well -- a positive sign for continued stock growth. Apple's stock is now once again the most-held stock among hedge fund investors, though Google continues to be the most popular stock with mutual-fund investors. Google was briefly the top pick among both groups of investors last March.
Part of the complex array of reasons for Apple's slow drop from a high of $700 last summer to a low of just under $400 this summer was due to hedge funds pulling out their money, feeling that Apple wasn't rising to the challenge posed by competitors. Solidifying reports of enhanced and new products in the pipeline, however, may be giving investors confidence that Apple can continue to lead the industry in influence and genuine innovation.
Investors are particularly excited about the possibilities of a mid-range "iPhone 5C" model and its potential effect on the Chinese market. The alleged new model, which could be sold in just China and other developing economies, could easily add 10 percent to Apple's stock price if the launch is successful.