FORTUNE -- Apple (AAPL) is an outlier in a major shift of stock ownership that's unfolded over the past five years, according to a note issued Wednesday by Morgan Stanley's Katy Huberty.
She writes that as small investors took their money out of stocks and put it into mutual funds, institutions were picking the slack. Average institutional ownership of the S&P 500 today is 83% of shares outstanding, and it's increasing at the rate of 0.8% per year.
The trend is even more pronounced in the large cap mobile tech companies Morgan Stanley follows. Every one but Apple.
Looking at the really big money -- the top 30 shareholders who tend to hold 30-50% of shares outstanding -- Morgan Stanley found big-money ownership to be at or near record highs for several stocks: Amazon (AMZN), Google (GOOG), Microsoft (MSFT) and Hewlett-Packard (HPQ).
In contrast, the big 30 shareholders currently own what Huberty describes as "a record low" 30% of Apple, compared with the 36% five-year average and a peak of 40% in 2009. (See chart.)
The tech giant can say 'thanks' for a solid quarter, but questions about the long term plan still remain.
FORTUNE—Hewlett-Packard (HPQ) has plenty to be thankful for this holiday weekend. The company's fourth-quarter results, reported earlier this week, came in better than expected. HP's revenue for the quarter, $29.1 billion, beat Wall Street analysts' projections, as did earnings. As a result, shares of the company soared nearly 10% the day after MOREMichal Lev-Ram, writer - Nov 29, 2013 3:00 PM ET
At Apple and HP, ad spending is flat as a percent of sales. The others are spending more.
FORTUNE -- Asymco's Horace Dediu on Monday used last week's release of Apple's (AAPL) fiscal 2013 advertising budget to update the fever chart at left and to add a new chart on the right, one that compares advertising expenses as percent of sales. He notes that although by that measure Coca Cola (KO) outspends MOREPhilip Elmer-DeWitt - Nov 4, 2013 11:58 AM ET
Now that HP's going to be dropped from the Dow, it's time to reevaluate what to do with the aging tech giant.
FORTUNE -- What would you do if it fell to you to turn around Hewlett-Packard (HPQ)?
It's a bit of a trick question that a number of skilled and experienced CEOs have had to answer in the past decade or so, and most of them came up with the wrong MOREKevin Kelleher - Sep 13, 2013 10:32 AM ET
The world's largest electronics manufacturer does have other clients.
FORTUNE -- If something sounded familiar about Lorraine Luk's headline in Tuesday's Wall Street Journal -- As Apple Feels Bite, Hon Hai Looks to Diversify -- it may be because we've heard that tune a lot lately.
Just in the past three weeks, journalists have attributed to Apple's (AAPL) loss of "steam" everything from Harvard's divestiture of a few hundred Apple shares to the structure of Sharp's survival plan. MOREPhilip Elmer-DeWitt - May 28, 2013 3:45 PM ET
In the last quarter of 2012, Apple had 5% of the global PC market and 45% of the profit.
FORTUNE -- Everybody who follows the computer industry knows that Apple's (AAPL) Mac trails far behind its Microsoft (MSFT) Windows-based competitors -- Hewlett-Packard (HPQ), Dell (DELL), Lenovo and the like -- in terms of worldwide PC shipments.
But who knew what the market looked like in terms of economic value?
Leave it to Asymco MOREPhilip Elmer-DeWitt - Apr 16, 2013 2:53 PM ET
The two leaders tower over Lenovo, HP and Sony, but stand in the shadow of "Others"
FORTUNE -- IDC has issued a Q4 report on shipments of what they call "smart connected devices," a category that includes desktop PCs, notebook PCs, tablets and smartphones.
Total shipments last quarter came to 367.7 million units, IDC estimates, with most of the growth in tablets (up 78.4% over 2011) and smartphones (up 46.1%), while desktop and MOREPhilip Elmer-DeWitt - Feb 22, 2013 11:06 AM ET
This assumes you believe that iPads and Kindle Fires are personal computers
FORTUNE -- Market researchers at Canalys made headlines Wednesday when they reported that Apple (AAPL) was the world's No. 1 personal computer manufacturer in Q4 2012 with shipments of 27 million PCs -- almost twice as many as No. 2 Hewlett-Packard (HPQ).
It was a finding that flew in the face of the "Apple is doomed" meme, and only makes sense if you MOREPhilip Elmer-DeWitt - Feb 7, 2013 5:46 AM ET
Companies are likely to spend on tablets and cloud services—but at the expense of higher margin products.
By Kevin Kelleher, contributor
FORTUNE -- As companies around the globe put the final touches on their 2013 budget plans, they are applying a modesty that was rare during earlier decades of Silicon Valley growth. And while many forecasts are calling for stronger spending than we saw in 2012, that's mostly because 2012 was a MOREJan 15, 2013 11:16 AM ET
Eleven lowered their 12-mos. targets in December, yet few stocks have as far to go
FORTUNE -- Analysts tend to get nervous when a stock they follow drifts too far from their published price target, and few stocks are as widely followed or as far out of whack as Apple (AAPL).
Eleven analysts lowered their Apple targets in the final weeks of the company's first fiscal quarter of 2013, which ends Saturday. MOREPhilip Elmer-DeWitt - Dec 28, 2012 8:37 AM ET
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