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Apple recently hit $500 a share amid the company’s upbeat future earnings and its iPad 3 release.  In the process, hedge funds have been on a buying spree to get in on the action.  Apple recently reported first quarter results which were quite stellar.  Since then, quite a number of hedge funds have been snatching up shares believing that Apple can still thrive without its iconic leader, Steve Jobs.

 Hedge fund managers that added Apple include: Ken Griffin (Citadel Advisors), David Shaw (D.E. Shaw & Co.), Robert Citrone (Discovery Capital), Steven Mandel (Lone Pine Capital), Chase Coleman (Tiger Global), David Einhorn (Greenlight Capital), Andreas Halvorsen (Viking Global), Phillipe Laffont (Coatue Management), Steven Cohen( SAC Capital Advisors), Barry Rosenstein (Jana Partners) and David Tepper (Appaloosa Management).

 As you can tell, hedge funds are going wild over Apple and their future prospects.  The company has a lot going for it right now and I believe its continued success in the iPhone and iPad will propel earnings even higher.  Not to mention Apple has a potentially great growth opportunity with China Mobile to sell iPhones through China’s largest mobile phone carrier.  That greatly expands its influence in China, which could lead to billions in extra revenue.

 Apple is not only one of the largest companies in the world but it has more money than the US Treasury.  On top of that they are expanding into new markets such as TV.  There are rumors that Apple could not only takeover internet TV but rather make its own TVs with Apple interface.  The full potential about Apple’s expansion into TV has yet to be seen but rumors and signs of movement towards TVs have started a whirlwind of speculation.Regardless, Apple will continue to expand into new markets and dominate those markets.  If you think Apple is just going to stick with computers and tablets you got another thing coming.  This company always has a few tricks up its sleeve and quite frankly, it has the money to see its expanded vision become a reality.

While we are on the topic of Apple and its vast mountain of money, some people are angry that Apple refuses to pay a dividend.  I think it is a great idea for them to keep their money rather than paying it out to shareholders.  If it pays out its cash to shareholders, then it doesn’t have the money to expand.  If Apple is able to expand, then it will make more money creating a higher stock price. So before you diss Apple for its “greedy” ways think about how this move is actually benefitting you if you choose to stay in Apple.