After passing Microsoft in market-cap earlier this year, Apple has replaced the software giant as the Pros’ favorite tech stock at the end of the third quarter, according to “Indie Research” (http://finance.yahoo.com/news/Apple-Overtakes-Microsoft-as-indie-2908767869.html?x=0&.v=1). Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC.
At the end of Q3, energy giant ExxonMobil and healthcare blue chip Johnson & Johnson were ranked first and second in Pro popularity again, but there was a changing of the guard in the tech space as Apple passed Microsoft for the number-three spot on the list, the article adds. At the end of Q3, 695 13F-filing asset managers counted Apple among their top-15 U.S.-listed equity holdings, compared to 674 Pros at Microsoft.
