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Key Points
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In Q1 2023, billionaires David Shaw and Louis Bacon sold Apple shares and bought O’Reilly Automotive, which has risen 510% over the last decade.
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Apple has struggled with AI integration and has not released a major product in over seven years.
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O’Reilly Automotive may benefit from tariffs encouraging maintenance of older vehicles.
During the first quarter of 2023, hedge fund billionaires David Shaw and Louis Bacon sold significant amounts of Apple (NASDAQ: AAPL) shares, with Shaw cutting his stake by 6% by selling 340,900 shares, and Bacon reducing his stake by 97% through the sale of 495,800 shares. They both purchased a small number of shares in O’Reilly Automotive (NASDAQ: ORLY), which recently underwent a 15-for-1 stock split after a 510% price increase over the past decade.
Apple’s Q2 results showed a revenue increase of 5% to $95 billion and a net income of $24.8 billion. However, the company’s struggles with AI integration and lack of innovation for over seven years raise concerns about future growth. In contrast, O’Reilly Automotive reported a 6% increase in revenue to $4.5 billion and 11% growth in earnings per diluted share to $0.78, prompting a raised full-year guidance forecast.
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