In late December Patently Apple posted a report about Apple's stock (AAPL) being the best performer in 2019 in FAANG stocks (Facebook, Apple, Amazon, Netflix and Google). Apple rose over 80%. It's the kind of returns that shareholders dream of, and not just in the U.S. and Canada.
According to a new Korean report today we learn that Apple Inc. was the top pick by South Korean investors among foreign companies during the fourth quarter of last year as local investors joined the rush to buy shares in the U.S. tech giant on hopes of it making a rally, data showed on Jan. 6.
Apple outperformed all other market-leading tech shares including FAANG stocks in 2019, rising 86 percent, as its new products, such as the Apple Watch 4 series, drew better-than-expected market response.
According to the data compiled by the Korea Securities Depository (KSD), South Korean investors net bought US$59.3 million worth of Apple stocks, the largest tally among all foreign companies during the October-December period of 2019.
In December alone, Korean investors scooped up a net buying of Apple stocks worth $30.6 million, the data showed.
Local investors‘ Apple stock holdings also swelled to $236 million as of Jan. 3, up from $134 million a year ago.
Apple closed at a record high of $300.35 in New York on Thursday, up 2.3 percent from the previous session’s close, with its market capitalization standing at $1.3 trillion.
Retail investors‘ appetites for U.S. stocks have increased sharply this year as the Korean stock market suffered a relatively dull performance compared with the U.S. market.