While mutual funds have largely bet on Apple in recent months, some big names missed out on all or part of its recent acceleration. Hedge fund manager Dan Loeb's Third Point LLC cut its stake in Apple by 26 percent to 1.9 million shares in the fourth quarter, according to regulatory filings, while George Soros and Carl Icahn also shed their Apple shares last year. Many investors are betting that Apple will mark the iPhone's 10th anniversary with a dramatically improved model. In 1998, when the S&P 500 closed above $10 trillion for the first time, Apple accounted for just under 0.06 percent of the index. It now accounts for about 3.5 percent of the S&P 500, according to S&P Dow Jones Indices.

Source: VietNamNet News February 14, 2017 03:44 UTC