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Apple Still the Core of Icahn’s Portfolio

Carl Icahn says Apple is the best stock in a decade.

Carl Icahn 2

Apple is the savior of many hedge fund portfolios, according to Bloomberg.

With hedge funds up just 0.2 percent in 2015 compared to 2.3% for the S&P 500. Apple has returned 19% so far in 2015 and is owned by one in five hedge funds and is a top 10 position for 12% of them.

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However, there are some questions about how much higher Apple can still go. According to Bloomberg projections, Apple is expected to rise 2%, but Goldman Sachs is more bullish, and sees a 9.7% rise. While David Einhorn and Leon Cooperman are cutting back on stock exposure, other managers are more bullish.

Carl Icahn, who said buying Apple was a “no-brainer” in the fall, has won big with his Apple stake. With the company reporting a record-breaking $18 billion profit. He told Bloomberg he expects Apple to hit $203, and still thinks this number is conservative. While some analysts are more cautious in raising targets and worry about saturation of certain markets, Apple’s management indicates it is selling iPhones almost faster than the company can make them. Management is going to unveil the iWatch this spring, which CEO Tim Cook says will be “the most personal device ever.”



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