Stocks
M1 Capital Invests Heavily in Apple Amid Growing Institutional Interest
M1 Capital Management LLC has invested approximately $21.50 million in Apple Inc. (NASDAQ:AAPL), purchasing 74,315 shares of its stock during the second quarter.
This investment makes up 7.9% of M1 Capital's portfolio and represents its fourth-largest holding. Other institutional investors have also been buying into Apple, with Longfellow Investment Management Co. LLC purchasing a new stake worth $30,000 in the same quarter.
The iPhone maker has seen significant interest in its latest products, including the iPhone Duo, which is expected to drive an upgrade cycle and potentially higher revenue for the company.