People wait in line at the Apple Fifth Avenue store for the new iPhone release on October 23, 2020 in New York City.
Michael M. Santiago | Getty Images
(This story is for CNBC PRO Subscribers only.)
Apple, the largest company in the US, has long been a favorite stock on the streets, but Morgan Stanley noted that institutional investors are actually underweighting the tech giant.
Analyst Katy Huberty came to this conclusion after analyzing Apple’s weighting in the S&P 500 across all of its institutional ownership. The result is a departure from other major tech companies, including Microsoft and Amazon, whose institutional investor ownership has shifted due to their market share.