Goldman Sachs’ Strategic Factor Allocation Fund disclosed the establishment of a fresh position in Apple Inc., purchasing 251,607 shares during Q4. The acquisition represents a meaningful allocation within the fund’s equity sleeve, reflecting the firm’s conviction in Apple’s near-term catalyst profile ahead of its January earnings report and ongoing AI-related product pipeline developments.

While Goldman’s move highlights bullish interest, several smaller institutional managers have been trimming exposure. City Holding Co. reduced its Apple holding by 5.4%, selling 5,642 shares and ending the quarter with 99,754 shares, representing roughly 3.2% of its total portfolio. Similarly, Bigelow Investment Advisors cut its stake by 13.7%, disposing of 4,349 shares to finish Q3 with 27,346 shares, or 2.8% of its assets. These adjustments underscore a nuanced repositioning among regional investors as they balance cash returns with portfolio diversification.

In a notable portfolio shift, Peter Thiel’s Thiel Macro fund reduced its Tesla exposure by over three-quarters and redeployed proceeds into Apple. Despite maintaining Tesla as its largest position, the fund designated Apple as a smaller, tactical allocation—an indication of Thiel’s strategy to hedge between high-beta growth prospects and blue-chip resilience. This rotation reflects a broader theme of seeking stable cash-flow generators without fully exiting the AI investment narrative.

Apple’s latest quarterly report showcased an 8.7% year-over-year revenue increase and an EPS surprise of $0.11 above consensus, driven by strong services growth and robust gross margins. Following the results, Evercore ISI reiterated an outperform stance, setting a consensus target implying mid-teens upside, while Wedbush and other sell-side firms raised price objectives citing stronger-than-expected iPhone average selling prices and accelerating services monetization. With RSI levels hitting multi-year oversold lows ahead of the next earnings release, technical and fundamental indicators suggest a favorable risk/reward setup for long-term investors.