Institutional owners or smart money own nearly 59.9% of Apple Inc. (AAPL) shares. While approximately 1,800 institutions increased their positions recently, 147 new institutions opened positions in the stock. However, would it be wise to invest in the stock now? Let’s look at its fundamentals to get an idea.
AAPL’s latest quarterly results revealed some hardware struggles, as its product sales declined 4.4% year-over-year to $60.58 billion. However, offsetting the hardware softness beat, the company beat Street’s expectations for earnings and sales, driven by stronger services sales that grew 8.3% annually.
