Seeking Alpha

Cooperman re-enters Apple, also a fan of Qualcomm and Sprint

After liquidating his Apple (AAPL +2%) position in calendar Q4 (along with several other big hedge funds), Leon Cooperman's Omega Advisors initiated a position in Q2.

Cooperman told CNBC's Scott Wapner he took a "modest" position in Apple in the "low 400s," and agrees with Carl Icahn's view of the company's valuation. Omega's 13F reveals a 31K-share position at the end of Q2.

However, Cooperman still considers Qualcomm (QCOM -0.6%) the best play in the mobile space. Omega's Qualcomm position rose by 475K shares Q/Q to 3.75M.

He's also big on Sprint (S +0.1%) in the post-SoftBank era: Omega's position in the #3 U.S. carrier rose by 30M Q/Q to 95M shares.

Earlier: Tepper cuts Apple position

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Comments (10)
  • investingInvestor
    , contributor
    Comments (2041) | Send Message
    So, the classic investment story plays out once again. Buy low, sell high. Rinse, repeat. Works for me.


    There is an important subtext for AAPL retail investors. You are either an AAPL speculator or long term investor. You decide before taking your position, and you stick to your plan in order to profit. Just do not chase the crowd.
    14 Aug 2013, 02:22 PM Reply Like
  • debtfree1
    , contributor
    Comments (209) | Send Message
    Good advice.
    17 Aug 2013, 12:08 AM Reply Like
  • gstanleyjr
    , contributor
    Comments (283) | Send Message
    Sold yesterday, right before Icahn's tweet and stock soars. My luck but minimal # of shares. Tired of all the AAPL downs.
    14 Aug 2013, 02:27 PM Reply Like
  • Unconventional Wisdom
    , contributor
    Comments (121) | Send Message
    glad to see i'm not the only one!
    15 Aug 2013, 05:04 AM Reply Like
  • debtfree1
    , contributor
    Comments (209) | Send Message
    I hear you. This one will wear you out
    17 Aug 2013, 12:13 AM Reply Like
  • bgold1955
    , contributor
    Comments (2321) | Send Message
    Still waiting on QCOM. An investment made in Jan 2000 would have increased 0% to current date and this was not a bubble year 2000 stock as CDMA has been on the market since Oct 1996. Maybe one of these days it will be a long term investment rather than a trading stock.
    14 Aug 2013, 03:28 PM Reply Like
  • stoj
    , contributor
    Comments (569) | Send Message
    That statement is a total ( but hidden ) oxymoron. If it's a long term investment ? it shouldn't matter what the 2013 trade is, and if it's a trading stock, a skilled trader with a fast ping, should be able to do a couple of small and fast, profitable trades, regardless of the 2013 total valuation
    14 Aug 2013, 07:29 PM Reply Like
  • bgold1955
    , contributor
    Comments (2321) | Send Message
    Oxymoron? Don't even understand YOUR statement. Long QCOM but stock has not been a good long term investment based on past price history (13 years I consider long term). I simply am betting for a short term trade as I got it 15% ago and looking for 20%. What is oxymoronic about that?
    15 Aug 2013, 05:54 PM Reply Like
  • june1234
    , contributor
    Comments (3545) | Send Message
    What a difference an Icahn makes. That guy cleared $1B off a couple of tweets, I like the 2 tweets just in case you did not get the first one. That's Carl , C.......A.....R.......L
    15 Aug 2013, 04:41 AM Reply Like
  • millsy1
    , contributor
    Comments (162) | Send Message
    Everyone talks about Qualcomm, but TQNT is up 64% this year.2013 total eps is .05, last qtr. full yr eps est was-.24. For 2014 the whole yr est. Went from .10 to the new est. of .55 WON desighn wins in both new aapl phone and china handset providers and just acquired CAP WIreless to help with their defense sector
    15 Aug 2013, 09:58 AM Reply Like
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