Economy
Monday, May 16, 2016
Warren Buffett is known for its good nose. Whether that pays off even during his recent deal? The senior now holds a high stake in Apple and apparently believes in the recovery of the tech giants. The Apple stock gives the lift.
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Investors legend Warren Buffett is betting a billion dollars that it will go for Apple’s stock back up. Buffett’s investment company Berkshire Hathaway announced that it held 9.8 million shares of the iPhone maker in late March. Thus the famous billionaire was initially hit by the downturn of Apple stock. Participation was last almost 900 million dollars (796 million euros) worth. According to a statement it was in March still 1.07 billion in the books.
Buffett had rather retained in technology stocks last. Berkshire also expanded its participation in the computer giant IBM and holds there now a unit worth more than twelve billion dollars. The Star investor could be involved also in the sale of Yahoo – but only as a donor. The ailing internet pioneer is not a company in which he would participate himself, Buffett told the US broadcaster CNBC. “I do not know the business and do not know how to evaluate it.” But he was willing to support a bid for fellow billionaire Dan Gilbert – at least with appropriate protection of their investments. About the interest previously had US media as the “New York Times”
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The 85-year-old Buffett had made a name as a far-sighted investor – and earned billions. The financial service Bloomberg leads him currently in third place of the richest people in the world with an estimated fortune of more than 66 billion dollars.
In the past few weeks had quarterly figures with the first sales decline since 2003 and the removal of billionaire Carl Icahn set having regard to the risks in China, Apple’s stock under pressure. CEO Tim Cook threw investors then “a huge overreaction” before eventually earn Apple still each quarter billion. However, investors are worried about the growth outlook. After Buffett’s announcement, the share price rose to around one percent in early US trade. The course had fallen in recent weeks of 108 dollars to $ 90.
Source: n-tv.de
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