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Billionaire Warren Buffett became the owner of the Apple shares for $1.7 billion

15.02.2017 Erika J. Wells 0 Comments

According to the Commission on securities and stock operations of the US investment company Berkshire Hathaway Warren Buffett has significantly increased its share in Apple in the final quarter of 2016. Large investments were made before the securities of the California Corporation has reached a historic high.

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Billionaire Warren Buffett became the owner of the Apple shares for $1.7 billion

Warren Buffett — the guru in the field of investment and money. His company more than three times increased investments in Apple, becoming the owner of about 57.4 million shares. The package price of the securities of Apple, Berkshire Hathaway bought in the last three months, is estimated at $1.7 billion, total package – $7,74 billion That Berkshire provides a place in the top ten largest owners of the Apple.

“In this industry has observed a massive consolidation… Buffett likes to invest in companies which have durable competitive advantage…,” said research Director at Smead Capital Management Tony Scherrer.

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To the closing of the Nasdaq stock market on Tuesday, February 14, the cost of one Apple shares was $135,02, which is 1.3% more than the previous day. The achieved value was record in the history of the American Corporation. Since the beginning of this year, Apple shares rose in price by 16.6%, and in 2016, the growth was 40%.

Quotes Apple rose after investment Bank Goldman Sachs raised the target price of the Corporation’s shares, but analysts at UBS said that the market is underestimating Apple’s service business. In addition, shares of Apple rise in price against the background of numerous rumors about the new iPhone and after the publication of earnings above market expectations.

Billionaire Warren Buffett became the owner of the Apple shares for $1.7 billion

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Billionaire Warren Buffett at the time, gave advice to Steve jobs, how to spend Apple cash. The founder of the “Apple” of the company didn’t know where to invest billions and asked for the business Council to one of the richest men in the world. Jobs wanted to get good business advice on the investments to properly manage funds.

“We have so much cash, Warren, what do we do with them? – quoted the former head of Apple Warren Buffett. I suggested him to invest the assets in their own stock – at the time they were sold for $ 200”. According to the billionaire, Steve jobs never listened to his advice and chose to remain in cash. The businessman expressed his regret that he could not buy the legendary Apple.

#apple#iPhone#Steve Jobs

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