Niles broke down a number of reasons for his move, including the risk stemming from China's potential ban.
Widely followed investor Dan Niles revealed Thursday he dumped his Apple shares and started betting against the tech giant in a significant way. "Sold $AAPL & now our largest single stock short," the founder and senior portfolio manager of the Satori Fund said in a post on X , formerly known as Twitter. The hedge fund manager bought Apple on Aug. 18 and started selling Wednesday, he said.
mountain Apple Secondly, Niles said Huawei's resurgence could pose a threat to Apple. The Shenzhen-based telecoms firm recently announced the latest version of its mobile operating system , HarmonyOS 4, and an enhanced AI assistant, as the company ramps up efforts to re-establish strength for its smartphone business. Moreover, Niles thinks the restart of student loan payment could make consumers tighten their purse strings when it comes to buying the new iPhone this fall.
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