“The Swiss National Bank raised its stake in Apple Inc. and Exxon Mobil Corp., increasing its U.S. equity holdings to $38.6 billion,” Catherine Bosley reports for Bloomberg.
“Switzerland’s central bank owned 9.4 million shares in the iPhone maker on June 30, according to a regulatory filing made to the U.S. Securities and Exchange Commission,” Bosley reports. “That compared with 8.9 million shares at the end of March, a 5.5 percent increase, according to Bloomberg calculations.”
“The SNB stands out among major central banks for its equity investments,” Bosley reports. “It had 516 billion francs ($526 billion) of foreign exchange reserves at the end of June, much of which was accumulated due to interventions to defend the currency cap of 1.20 per euro it had in place from 2011 to early 2015. The proportion of equities in those holdings stood at 17 percent at the end of June.”
Read more in the full article here.
MacDailyNews Take: Even if the Swiss watchmakers don’t get it, at least the SNB does.
SEE ALSO:
Swiss watch exports hit worst slump in five years as Apple Watch debuts – June 19, 2015
Apple Watch is making the luxury watchmakers uncomfortable – May 29, 2015
As Swiss watchmakers dismiss Apple Watch, Swiss National Bank increases Apple holdings by 60% – May 10, 2015
As Swiss watchmakers dismiss Apple Watch, Swiss National Bank increases Apple holdings by 60 – May 10, 2015
Apple Watch Edition is poised to disrupt the classic Swiss watch – April 16, 2015
Jean-Claude Biver changes his tune, calls Apple Watch ‘a fantastic product, an incredible achievement’ – January 20, 2015
TAG Heuer plans smartwatch as honcho Jean-Claude Biver changes mind as Apple Watch looms – December 16, 2014
Apple Watch starts countdown on face off with Swiss industry – October 31, 2014
The fashion elite crowd around Apple Watch at Colette in Paris – September 30, 2014
Jean-Claude Biver: ‘The Apple Watch cannot compete at all with European watches’ – September 15, 2014
Jean-Claude Biver: Apple Watch ‘too feminine; looks like it was designed by a student in their first trimester’ – September 16, 2014
Barclays: Apple Watch could crush companies like Fossil – September 16, 2014
Jean-Claude Biver: ‘The Apple Watch cannot compete at all with European watches’ – September 15, 2014
Old school watch makers don’t get Apple Watch – September 12, 2014
Apple Watch, the world’s first real smartwatch, will be a massive hit – September 9, 2014
Apple iWatch designer Jony Ive: Switzerland is in deep shit – September 4, 2014
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
lol, stupid is as stupid does. In this case, the Swiss aren’t stupid.
Add a few more million dollars to the kitty when dividends pay this month.
Backing up the truck
Anyone else besides the Swiss?
Dr. Money wrote:
More economic nonsense from MDN.
Swiss bank is shorting the shares
Not according to the Bloomberg story:
“Switzerland’s central bank owned 9.4 million shares in the iPhone maker on June 30, according to a regulatory filing made to the U.S. Securities and Exchange Commission. That compared with 8.9 million shares at the end of March, a 5.5 percent increase, according to Bloomberg calculations.”
You don’t own shares you are shorting via options…