Apple Inc. (AAPL) News Updates: Hedge Fund’s Most-Held Stock, Trade-In Program, AppleCare & More

Editor’s Note: Apple Inc. (NASDAQ:AAPL)

Apple stock took top hedge fund holding slot in Q2 (Apple Insider)
Citi analyst Tobias Levkovich noted in his most recent report that Google remains the most held stock among mutual funds, a position the search giant took from Apple in March of this year. Apple, though, beat out Google, Priceline, and Qualcomm to take first place among hedge fund holdings. Apple Inc. (NASDAQ:AAPL) previously lost the top spot to insurance giant AIG in February, according to some estimates. At the time, Apple fell to third place behind Google. Google subsequently went on to become the top holding in both hedge and mutual funds in March.

Apple’s iPhone trade-in program a bad deal for iPhone 5 users (Stabley Times)
Apple Inc. (NASDAQ:AAPL) is ushering in the iPhone 6 era by prepping an in-store trade in program which will allow current users of the iPhone 5 and older devices to exchange them for credit toward the new iPhone. It’s a similar move to trade in programs already put in place by carrier AT&T and retailer Best Buy. And like those programs, the Apple Store trade in program is a bad deal for iPhone 5 users. The trade in system will allow current iPhone users and for that matter those looking to ditch their Android phones to bring them into Apple Stores and receive on the spot credit toward an iPhone 6, says Bloomberg.

Apple launches more intuitive AppleCare support website, 24/7 chat (9 to 5 Mac)
Earlier this month, we reported that Apple Inc. (NASDAQ:AAPL) would soon introduce significant changes to its online AppleCare support portals. In line with our report, Apple has begun rolling out a redesigned AppleCare website to provide support and has also begun rolling out 24/7 live chat support. The new AppleCare website is easier for users to follow and it groups product categories in more understandable fashion. The new support site also makes it simpler for customers to identify the exact issues with their device.

Apple Wants To Use The iPhone To Take A Bigger Bite Out Of Russia (TechCrunch)
With all eyes focused on what new iPhone handsets Apple Inc. (NASDAQ:AAPL) may be launching very soon — if reports are to be believed, two new models, and a new color, on September 10 — some of Apple’s top executives this week are making a trip to Russia to meet with key distributors to revisit how it sells devices in the country. Although Apple has yet to confirm what iPhone handsets it will launch next, the meetings are a sign of how Apple may be preparing to launch new, possibly cheaper devices, to revisit a market that has seen demand for its products, but also one where it has faced challenges working with carriers, the presence of a crazily-priced grey market and, according to eager distributors, short supply issues that do not meet demand.

Apple should learn to let go: Wozniak (Reuters)