{"id":52938,"date":"2023-08-25T11:16:31","date_gmt":"2023-08-25T15:16:31","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/apple-is-most-under-owned-big-tech-stock-among-large-investors-that-could-be-a-good-thing\/"},"modified":"2023-08-25T11:16:33","modified_gmt":"2023-08-25T15:16:33","slug":"apple-is-most-under-owned-big-tech-stock-among-large-investors-that-could-be-a-good-thing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52938","title":{"rendered":"Apple is most \u2018under-owned\u2019 big tech stock among large investors. That could be a good thing."},"content":{"rendered":"
\n

Apple Inc. supplanted Microsoft Corp. last quarter as the most \u201cunder-owned\u201d large technology stock among big institutional investors, according to Morgan Stanley, and history suggests that could be a positive indicator for the consumer-electronics giant\u2019s stock. <\/p>\n

\u201c[S]tocks appear to experience a technical pull higher when active ownership is much lower than the market, and vice versa,\u201d Morgan Stanley analysts wrote in a note to clients earlier this week.<\/p>\n

\n

The team at Morgan Stanley looked at the ownership of 15 large tech stocks, their average weight in the top 100 activity managed institutional portfolios, and their relative weighting in the S&P 500
\n SPX.<\/span>\n <\/p>\n

Read<\/strong>: The iPhone 15 could help Apple clinch a title it\u2019s never held before<\/p>\n

\u201cA quant analysis of this historical ownership data indicates that on average, after adjusting for market cap and earnings beats, there is a statistically significant relationship between low active ownership relative to the S&P 500 and future stock performance,\u201d the analysts said. <\/p>\n

Microsoft
\n MSFT,
\n -0.04%<\/bg-quote>
\n had been the most under-owned big tech stock for four years, but Apple
\n AAPL,
\n +0.18%<\/bg-quote>
\n claimed that title in the latest analysis, based on second-quarter data. The second-quarter brought the largest single-quarter increase in Apple\u2019s under-ownership levels since Morgan Stanley began tracking these trends. <\/p>\n

\u201cWe believe this is a reflection of the significant weighting Apple has in market indices, especially after outperforming the market [year to date] by 30 points at the peak in late July, as well as investor concerns about the divergence between valuation\u2026and near-term fundamentals,\u201d the analysts wrote. <\/p>\n

Don\u2019t miss<\/strong>: \u2018Magnificent Seven\u2019 stocks are losing some of their shine, but their bonds are doing fine<\/p>\n

They noted that Apple\u2019s price-to-earnings multiple peaked at 29-times calendar 2024 estimates in July, but the company\u2019s forecast implied the potential for a fourth straight quarter of declining revenue on a year-over-year basis.<\/p>\n

On the flip side, Meta Platforms Inc.\u2019s stock
\n META,
\n -3.18%<\/bg-quote>
\n became the most \u201cover-owned\u201d that it\u2019s been since 2014, according to the Morgan Stanley analysis. It\u2019s the only stock of the five mega-cap tech players whose institutional ownership in the second quarter exceeded its weighting in the S&P 500.<\/p>\n

See also<\/strong>: Red flags waving for tech stocks as AI bounce fades, China fears escalate<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Apple Inc. supplanted Microsoft Corp. last quarter as the most \u201cunder-owned\u201d large technology stock among big institutional investors, according to Morgan Stanley, and history suggests that could be a positive indicator for the consumer-electronics giant\u2019s stock. \u201c[S]tocks appear to experience a technical pull higher when active ownership is much lower than the market, and vice […]<\/p>\n","protected":false},"author":1,"featured_media":52939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-52938","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nApple is most \u2018under-owned\u2019 big tech stock among large investors. 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