Apple shares have struggled lately, as some of the most influential or the wealthiest investors, also known as "whales," have cut their stake in the technology company or simply sold all shares outright.
Julian Robertson's Tiger Management recently dumped its entire stake in the company, according to an SEC filing. At the end of last year, Tiger held 42,125 shares of Apple. Intensifying the blow, David Tepper of Appaloosa Management cut his stake in the Cupertino, Calif.-based tech giant by about 40 percent.
Apple's stock suffered a sharp 3-percent decline on the news Wednesday, only to recover some of its losses on Thursday, ending up more than 1 percent at $434 a share.
It seems the convention wisdom on Wall Street, though, is that the stock has yet to bottom.