Is Apple’s China Apology What These Top Institutional Shareholders Wanted?

Apple (NASDAQ:AAPL) Chief Executive Officer Tim Cook made an apology for the company’s iPhone warranty and repair policies in China after the company continued receiving criticism from state-run media concerning customer service in its second-largest market. Apple, plans to now offer full replacements of older iPhones experiencing problems, Cook stated via a letter posted on the Apple’s Chinese website. Furthermore, Apple promised that it would improve training, customer service, and monitoring of stores authorized to sell its products in China.

These institutional firms indicated owning shares of Apple in Q1 2013. They reported owning a total of 129,720 shares on 03/31/2013. The shares closed at $442.66 on 03/31/2013.

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Here are the ten largest positions in Apple at the end of March 31, 2013.

Neville, Rodie & Shaw Inc held 80,842 shares on 03/31/2013 worth $35,786,000. This brought the portfolio total to 4.25 percent.

Fulton Bank N.A. held 27,991 shares on 03/31/2013 worth $12,391,000. This brought the portfolio total to 1.54 percent.

Park National Corp /OH/ held 19,458 shares on 03/31/2013 worth $8,613,278. This brought the portfolio total to 0.7 percent.

Acropolis Investment Management LLC held 1,429 shares on 03/31/2013 worth $632,561,140. This brought the portfolio total to 0.13 percent.

Vanguard Group Inc held 42,083,340 shares on 12/31/2012 worth $22,395,490,329. This brought the portfolio total to 2.8 percent.

FMR LLC held 41,157,281 shares on 12/31/2012 worth $21,902,669,526. This brought the portfolio total to 3.95 percent.

State Street Corp held 36,838,788 shares on 12/31/2012 worth $19,604,497,180. This brought the portfolio total to 2.84 percent.

Susquehanna International Group LLP held 26,597,500 shares on 12/31/2012 worth $14,177,265,000. This brought the portfolio total to 3.16 percent.

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Blackrock Institutional Trust Company N.A held 25,239,746 shares on 12/31/2012 worth $13,431,835,197. This brought the portfolio total to 3.13 percent.

Price T Rowe Associates Inc /MD/ held 23,598,905 shares on 12/31/2012 worth $12,558,628,871. This brought the portfolio total to 3.69 percent.

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