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Apple, the largest company in the U.S., has long been a favorite stock on the Street, but Morgan Stanley found that institutional investors are actually underweight the tech giant.
Analyst Katy Huberty came to this conclusion after analyzing Apple's weighting in the S&P 500 against its total institutional ownership. The finding represents a divergence from other large-cap technology companies, including Microsoft and Amazon, which have seen their ownership among institutional investors shift based on their portion of the market.
The divergence could force fund managers to buy more Apple shares or risk underperforming the S&P.