Top U.S. hedge funds cut Apple stakes ahead of all-time high

Reuters – Top U.S. hedge fund management firms, including David Einhorn’s Greenlight Capital and Philippe Laffont’s Coatue Management, reduced their stakes in Apple Inc during the fourth quarter, ahead of the iPhone maker’s strong rally in 2015, according to regulatory filings.

Apple was a big winner in 2014, with its shares rising nearly 38 percent. The company’s stock is up more than 16 percent year to date and reached an intraday record high of $129.45 per share. Last week, its stock market value rose above $700 billion, bigger than Switzerland’s gross domestic product.

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