Apple investor unloads shares
FMR Corp, investment advisor to investor-broker Fidelity, has halved its stake in Apple, the company revealed to the US Securities and Exchange Commission yesterday.
The investment firm currently holds 17.8 million shares of Apple – 4.99 per cent. It held 36.4 million shares in the company on April 10. Apple’s share price has shifted between $14.68 and $26.17 over the past year.
The filing also lists the four main beneficiaries of stock held by FMR.
Partially resisting the slide on all markets that began yesterday, as investors questioned the trustworthiness of CEO’s in the wake of the WorldCom, QWest and Enron scandals, Apple shares fell just 1.2 per cent, closing at $17.32. Nasdaq declined 2.54 per cent yesterday, closing at $1,346.01.