Billionaires Are Deciding to Sell Shares of This Well-Known Stock

Following the investment moves of billionaires isn't a foolproof strategy, but it can help inform your own decisions, as many of the top investors have gotten wealthy through their stock-picking abilities.

It shouldn't come as a surprise that Apple (NASDAQ: AAPL) is a popular stock to own among billionaires. The iPhone maker is once again the most valuable company in the world, with a market cap of $3.4 trillion. That's one reason the stock is appealing to the wealthiest investors. Many of them run hedge funds worth tens or even hundreds of billions of dollars, so they need to invest in companies that are big enough to move the needle.

Another is that Apple enjoys substantial competitive advantages thanks to its installed base of roughly 2 billion devices, dominant brand name in consumer electronics, and high-margin business like its App Store, which typically allows the company to collect 30% of money spent inside the apps.

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Source Fool.com