Fidelity Cuts More Apple Inc. (AAPL) Stake

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Mani
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Fidelity Contrafund Fund (MUTF:FCNTX) trimmed its holdings in the Cupertino, California-based company by another 9 percent. Of late, some of the large mutual funds have been dumping Apple Inc. (NASDAQ:AAPL) shares. The fifth largest U.S. mutual fund, American Funds The Growth Fund of America A (MUTF:AGTHX) earlier trimmed its stake in the iPhone maker during the first quarter. Prominent hedge-fund managers such as Julian Robertson and David Tepper have also significantly cut their exposures to Apple Inc. (NASDAQ:AAPL) during the last quarter. The reduction in stake was revealed in their 13F filings with Securities Exchange Commission. Boston-based Fidelity Contrafund Fund…

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HFA Padded

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports