Prominent Apple Bull Just Revealed That His Firm Does Not, In Fact, Own Any Apple Stock Right Now: 'But ... This Is The One We Continue To Believe In'
Portfolio Pulse from Shanthi Rexaline
Gene Munster of Deepwater Asset Management revealed on CNBC that his firm sold all its Apple shares, despite previously advocating for the company. Munster mentioned owning Meta Platforms and Alphabet but omitted Apple, leading to criticism for lack of transparency. Apple faces challenges with slowing hardware sales and is down approximately 12% year-to-date.
March 27, 2024 | 10:23 am
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NEGATIVE IMPACT
Deepwater Asset Management sold all its Apple shares, despite Gene Munster's previous positive outlook on the company. Apple faces slowing hardware sales and economic challenges.
The sale of Apple shares by a prominent bull, coupled with the company's current challenges, could lead to negative investor sentiment in the short term, potentially impacting the stock price negatively.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Gene Munster disclosed owning Alphabet stock, highlighting Deepwater Asset Management's investment in Google's parent company.
The inclusion of Alphabet in Deepwater's holdings, as mentioned by Munster, indicates a positive stance on the company, which could positively affect investor sentiment and Alphabet's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Gene Munster mentioned owning Meta Platforms during the CNBC interview, indicating Deepwater Asset Management's investment in the company.
Mentioning Meta Platforms as part of Deepwater's portfolio suggests a positive outlook on the company, which could influence investor sentiment and potentially lead to a short-term positive impact on the stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70