U.S. Pension Fund Cuts Apple Stocks While Increasing Holdings in Meta and AMD
The California Public Employees' Retirement System (CalPERS) made a surprising move in the first quarter by cutting 5.1 million shares of Apple (AAPL), leaving only 34.7 million shares. In contrast, it increased its holdings of Meta (META) by 579,000 shares and AMD (AMD) by 325,000 shares. Apple has seen its stock price plummet due to tariff pressures and poor earnings, dropping 11% in the first quarter and another 12% in the second quarter.
External analyses indicate that concerns over Apple have heightened with Trump's plans to impose a 25% tariff on iPhone imports, compounded by the ongoing U.S.-China trade tensions. Conversely, Meta's advertising revenue has rebounded, AMD has announced buybacks, and McDonald's has lifted its performance through brand collaborations. CalPERS has stated its asset allocation strategy is based on overall market conditions.
