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Is Apple (AAPL) Facing Increasing Risk of Chinese Bans?

Soumya Eswaran
·2 min read

Orbis Investment Management, an investment management company, released its "Orbis Global Equity Strategy" fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy returned 20.8% on a weighted-net basis (1) an attractive absolute return, but underperformed the MSCI World Index, which rose 23.8%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Orbis Global Equity Strategy featured stocks like Apple Inc. (NASDAQ:AAPL) in its Q4 2023 investor letter. Headquartered in Cupertino, California, Apple Inc. (NASDAQ:AAPL) is a multinational technology company that designs and manufactures smartphones, personal computers, tablets, wearables, and accessories. On March 15, 2024, Apple Inc. (NASDAQ:AAPL) stock closed at $172.62 per share. One-month return of Apple Inc. (NASDAQ:AAPL) was -2.98%, and its shares gained 12.38% of their value over the last 52 weeks. Apple Inc. (NASDAQ:AAPL) has a market capitalization of $2.729 trillion.

Orbis Global Equity Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its fourth quarter 2023 investor letter:

"Never before has following the crowd made so much money. Nor, in our estimation, so little sense. But just look at the opportunities the crowd has left for those of us willing to take a different view. We could wax lyrical about the glaring difference in value between Korean banks priced at 4 times earnings, versus Apple Inc. (NASDAQ:AAPL) at 28 times, despite diverging fundamentals—Apple is increasingly at risk of bans in China, while Korean banks could double their dividends."

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Apple Inc. (NASDAQ:AAPL) is in 10th position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Apple Inc. (NASDAQ:AAPL) was held by 131 hedge fund portfolios, down from 134 in the previous quarter, according to our database.

We discussed Apple Inc. (NASDAQ:AAPL) in another article and shared the list of most owned stocks by hedge fund. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.