More top hedge funds dropped Apple shares in first quarter

(Reuters) - One-time hedge fund darling Apple Inc was dropped by more well-known fund managers in the first quarter, including John Griffin and Chase Coleman. Shares of Apple were down $19.50, or 4.4 percent, at $424.36 in trading on the Nasdaq on Wednesday. The shares have fallen 40 percent from their all-time peak of $705.07 in September. Sales of Apple's popular devices like the iPhone and iPad remain strong, but the company's profit growth and margins have come under pressure from competitors as well as consumer preferences for lower-cost Apple offerings like the iPad mini. ...

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