Growth funds dumping Apple stock as iPhone sales seen sagging; value-managers moving in

An iPhone 6 Plus is pictured as the Apple iPhone 6s and 6s Plus go on sale at an Apple Store in Los Angeles, California September 25, 2015. REUTERS/Jonathan Alcorn TPX IMAGES OF THE DAY

NEW YORK: Major US growth mutual funds have been among the largest sellers of Apple Inc shares over the past six months, fuelling speculation that the company’s days of supercharged growth have come to an end. 

Amid concerns that iPhone sales may be set to drop, the US$77.3bil (RM340.34bil) American Funds Capital World Growth & Income Fund has sold all of its 1.7 million Apple shares since the end of June, according to Lipper data. The US$9.3bil (RM40.94bil) Hartford Capital Appreciation Fund sold 1.4 million shares over the same period, reducing its position by 91%.