"Fund Takes Short Position on Apple and Popular AI Stock"
Bireme Capital, a wealth management firm, has taken a bearish stance on Big Tech, selling its Netflix position, significantly reducing its Meta position, and shorting Tesla and Apple due to concerns about valuations. The firm also bet against Arm Holdings and C3.ai, while taking a long position in British American Tobacco and shorting Clorox and Tootsie Roll Industries. Meanwhile, the markets are showing optimism despite a hawkish Fed, with Amazon, Meta, and Apple expected to deliver strong results. Additionally, weekly jobless claims came in higher than expected, and Tesla is cutting prices on several Model Y EVs in China.