Joseph DiMenna described by Businessweek as “the best stock-picker no one has ever heard of.” Retreats Positions in Advanced Micro Devices, Inc. (AMD), Apple Inc. (AAPL), Micron Technology, Inc. (MU)
Apparently, all is not good on the technology front from Joseph DiMenna’s perspective, as he has opted to diminish holdings in all three stocks in the fourth-quarter of 2016.
Joseph DiMenna described by Businessweek as “the best stock-picker no one has ever heard of” retreats from technology positions
According to the latest SEC filing, Zweig-DiMenna cut back 20% of its stake in AMD to 872,671 shares worth $9,896k.
TipRanks measures analysts’ and bloggers’ success rate based on how their calls perform, highlights AMD as a Buy.
Out of 20 analysts polled by TipRanks in the last 3 months, 8 are bullish on AMD stock, 8 remain sidelined, and 4 are bearish on the stock.
The stock’s consensus target price stands at 14.68%.
Joseph DiMenna’s latest move on Apple was to backtrack, reigning in 38% of his hedge fund’s holding in the stock to 87,268 shares worth $10,107k.
But TipRanks analytics demonstrate AAPL as a strong Buy. Based on 31 analysts polled by TipRanks in the last 3 months, 25 rates a Buy on Apple stock, 6 maintain a Hold, while no one is issuing a Sell. The 12-month average price target stands at $188.10, marking an 11% upside from where the stock is currently trading.
According to the latest SEC filing, Zweig-DiMenna cut back 20% of its stake in AMD to 872,671 shares worth $9,896k
Zweig-DiMenna also reduced 28% of its holding in Micron Technology, Inc. MU to 587,697 shares worth $12,882k. But out of 24 analysts surveyed 22 are bullish, 2 recommend holding and none say sell. Price target $53.48 with 23.80% upside.
So Joseph DiMenna, the so-called best stock picker, is a contrarian on technology stocks.
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