Katy Huberty, Morgan Stanley’s chief Apple (AAPL) analyst, issued an elaborate report Monday entitled AAPL: How Do You Do Risk Management? that I can’t pretend to understand completely — not even the title.
But two takeaways are clear: (I quote)
- AAPL is the most widely held US company among hedge funds, with 26% of all large hedge funds holding positions of 1% or larger, and 10% holding positions 5% or larger (as of March 2012). One in 25 total hedge funds has a 10% or larger position in AAPL.
- AAPL has had persistent growth and low quality (junk) biases.
Expanding on that second point, she writes:
Below the fold: Huberty’s Exhibit 12 and a couple of other charts that I could understand.