BOSTON, July 31 Fidelity Contrafund
manager Will Danoff cut his stake in Apple Inc by 28
percent during the first half of the year, citing the iPhone
maker's "slowing growth profile."
The star stockpicker remained bullish on Google Inc
and on Tesla Motors Inc's "disruptive technology and
superior business model."
"Reflective of the company's slowing growth profile, Apple
moved from the fund's top position a year ago to the third spot
as we reduced our stake in the company," Danoff said in his
monthly commentary for investors. He runs the $94 billion
Contrafund for Fidelity Investments in Boston.
Danoff has been trimming his stake in Apple since last year.
Google is now his largest holding at 6 percent of net assets.
Danoff also said he increased his position in electric car maker
Tesla, "a firm we believed was fundamentally reengineering the
automobile for the first time in decades."