Investers Cautious As Release Nears

Since the initial announcement of Apple’s iPhone in early January, Apple Inc. Shares have risen nearly 40 percent, recently hitting a high of $127. But with all the buzz surrounding the iPhone, surprisingly, many investors are leaning away from Apple stock.

You might be surprised how the ubiquitous buzz around the device can be a deterrent for investors. One tends to think that any form of media and consumer attention for a product will not do well for a product. However, in this case, Buzz can be great. With expectations for the device higher than any consumer electronics device in recent memory (save maybe the PlayStation 3, and we all know how that went), some big investors are left to speculate that Apple Can’t possibly meet them.

Hedge fund manager Jay Somani is one such investor. “It’s time to take some money off the table,” said Somane, who plans to sell half of his stake before then.

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