“The Dow Jones Industrial Average slashed an opening drop to trade sharply higher Friday afternoon, on the back of a pop in Apple Inc.,” Mark DeCambre reports for MarketWatch.

“Shares of Apple were contributing about 45-points to the price-weighted Dow after a report from CNBC late Thursday said Warren Buffett’s Berkshire Hathaway Inc. acquired some 75 million additional shares of the iPhone maker during the first quarter,” DeCambre reports. “Shares of Apple were up about 3.7%, or $6.54, contributing about 45 points to the Dow, with a $1 move in any one of the blue-chip gauge’s 30 components equating to a 6.89-point swing.”

DeCambre reports, “The S&P 500 index was up about 1.3% at 2,664, while the Nasdaq Composite Index was advancing by 1.7% at 7,210.”

Read more in the full article here.

MacDailyNews Take: Apple is to the stock market as the moon is to the sea.

SEE ALSO:
Apple surges to all-time high – May 4, 2018
Warren Buffett’s Berkshire Hathaway bought 75 million more Apple shares during the first quarter – May 4, 2018
Why was iPhone X so successful at $999 despite a slew of fake news? – May 2, 2018
Uh, yeah, about those iPhone X ‘concerns’ from analysts: Never mind – May 1, 2018
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