American Politicians are Selling These 5 Stocks

2. Apple Inc (NASDAQ:AAPL)

Number of Hedge Fund Investors: 131

While Apple Inc (NASDAQ:AAPL) has seen a lot of positive interest from American politicians over the past months and years, it was sold by some Congressmen earlier this year. US Senator Tommy Tuberville sold Apple Inc (NASDAQ:AAPL) shares having worth between $15,000 to $50,000 on March 12. Since then through April 24 Apple Inc (NASDAQ:AAPL) stock has lost about 2.4% in value. Congressman Ro Khanna also sold Apple Inc (NASDAQ:AAPL) shares worth between $1K to $15K on March 25.

Ithaka US Growth Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its first quarter 2024 investor letter:

“Apple Inc. (NASDAQ:AAPL) is a global consumer electronics and software company that designs and markets mobile communications devices (iPhones), personal computers (Macs), multi-purpose tablets (iPads), and wearables (Apple Watch, AirPods, and Accessories). The company also sells several high-margin consumer services including Advertising, AppleCare, Cloud Services, Digital Content and Payment Services. The stock’s underperformance during the quarter was due to fears that the company’s slowing top-line growth and increased competitive threats make the stock’s premium valuation harder to justify.