Institutional investors are significantly increasing their positions in Apple Inc. Biondo Investment Advisors LLC purchased over 190,000 shares, making the tech giant its largest holding at 6.7% of its portfolio. CIBC World Market Inc. acquired a new stake valued at approximately $944 million. Capital Square LLC and True Freedom Investing LLC also initiated new positions in the company.
Market sentiment is supported by strong consumer demand for the new iPhone 18. The company recently completed a leadership transition with John Ternus taking over as CEO. Additionally, Apple is preparing a software update to resolve a reported rebooting bug on the iPhone 18 Pro.