Traders Have Noticed That The Buy-Apple, Sell-BlackBerry Trade Has Flipped
Sometimes the world turns on its head. This chart showing Blackberry's stock performance relative to Apple's is one example of that.Blackberry shares have almost doubled out of their December lows climbing from $5.75 to today's close of $9.14. The Street's noticed, and hedge fund managers like Dan Loeb of Third Point have revealed stakes in the company.
Eagle Bay Capital
He continued: "In AAPL we're seeing the opposite. All of the great news was priced into the stock by the end of 2012."This could be the beginning of a big reversal from 2013. According to a recent report from Goldman Sachs, Blackberry was one of the of the 50 stocks with over $1 billion market cap that hedge funds liked to short the most. Conversely, Apple made Goldman's "hedge fund VIP" list. According to Factset, the 50 largest hedge funds increased their Apple exposure by 3.6% in Q4 2013. However, the research firm also points out that since Carl Icahn has backed off his effort to force Apple to buyback stock, hedge funds may be backing off the stock as well.
So things can change, and this chart shows that the tide may be turning.
What a difference a year and change makes.
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