Israel Englander sells Apple stock, increases stake in S&P 500 index fund, driven by index fund potential

From Nasdaq: 2024-12-19 05:20:00

Israel Englander, CEO of Millennium Management, sold 11.5 million shares of Apple, reducing his stake by 90%. Meanwhile, he increased his stake in the SPDR S&P 500 ETF Trust by 81%. Apple, a top holding, no longer ranks in his top 75, while the S&P 500 index fund is now his seventh largest holding.

Ed Yardeni predicts a potential 11% annual return for the S&P 500 in the next decade, driven by strong economic growth. Apple’s revenue rose 6% due to iPhone sales and services growth. Despite releasing Apple Intelligence, consumers seem underwhelmed, leading to a 30% stock increase and a high P/E ratio of 42.

The SPDR S&P 500 ETF Trust tracks the S&P 500, offering exposure to top U.S. companies like Apple, Microsoft, and Nvidia. Yardeni forecasts 11% annual returns, emphasizing the fund’s diversification benefits. With an expense ratio of 0.0945%, investing in this index fund could be a wise choice for many investors.

Consider investing in the 10 best stocks identified by Motley Fool Stock Advisor analysts for potential high returns. Apple was not on the list, but historical picks like Nvidia have shown significant growth. The Stock Advisor service has outperformed the S&P 500 since 2002, making it a valuable resource for investors seeking long-term success.



Read more at Nasdaq: Billionaire Israel Englander Sells Apple Stock and Buys an Index Fund That Could Soar 180%, According to a Wall Street Analyst