D&C are San Francisco based which makes them physically closest to Apple yet are betting big on Apple competition. Did they learn something more than what we know ?
We know Nokia is going to do very well, Dodge & Cox seem to think they are going to do exceptionally well. There is also a possibility that they are forward purchasing for some entity that does not want to be known at this time.
I can't help but wonder the reaction of Silicon Valley when they read that a local large investment firm has made a $ 1 Billion investment not in apple who is at their doorstep but on their competitor Nokia half way around the world.
What other institutional investors and top mutual funds have also increased their holdings over 2Q as well, this is serious money, the serious kind of money that helped push Apple up to over $700/share and it is also the kind of serious money that exited out of Apple that has brought Apple down to where it is today.
HELSINKI--The U.S. investment firm Dodge & Cox has increased its stake in the embattled Finnish telecom equipment and device maker Nokia Corp. (NOK) to 8.4% of all outstanding shares, investment research company Morningstar Inc. (MORN) said on its Finnish language website Wednesday.
Morningstar says San Francisco-based Dodge & Cox increased its holding in Nokia by 63 million shares during the second quarter to a total of 314 million shares at the end of June.
At the end of March Dodge & Cox owned 251 million Nokia shares, or 6.8% of all 3.74 billion outstanding shares.
Exact information on the distribution of Nokia's ownership isn't publicly available, and Morningstar's report is based on fund reports released by Dodge & Cox.
Nokia will publish its June quarter earnings report on July 18. The company is expected to have narrowed its quarterly net loss markedly from the net loss of EUR1.4 billion in the year earlier period.
The price of Nokia's shares has risen by 23% since the beginning of April this year. At 1108 GMT, Nokia shares were up 0.13% at EUR3.09.