Coatue Hedge Fund Returns 26%, Calls iPhone X ‘Groundbreaking’
- The money manager points to ARKit augmented reality platform
- Investment firm opened a Hong Kong office and added staffers
IHS Analyst Sees Inflection Point in iPhone Design
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Philippe Laffont, founder of tech-focused hedge fund Coatue Management, said the firm boosted its stake in Apple Inc. and called the iPhone X “groundbreaking.”
The hedge fund increased its position in Apple to more than 9 percent of its gross exposure, Laffont wrote in a letter dated Sept. 27, which was seen by Bloomberg. His iPhone X endorsement was inspired by ARKit, a tool that lets developers build augmented reality applications for iPhones and iPods.