“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
Apple beats Street with best Q2 ever – May 1, 2018
👏 👏 👏😀😀😀
200+ by Christmas..
Just the buy back alone should take us there..
Add in Some earnings growth and better PE ( hopefully due to market being more confident of Apple’s more diversified revenue streams )
200++ in one year …
Yee haaa
( please Apple .. no slip-ups 🙏🙏🙏)
I wouldn’t count on Wall Street boosting Apple’s value considerably. Analysts can easily find ways to keep Apple devalued by using the usual scare tactics. Warren Buffett has definitely helped Apple get as high as it is but there far more factions trying to take Apple down using lies and deception.
The Buffett euphoria isn’t going to last and next week will bring Apple declines as analysts pick apart Apple’s strategy and it will be back to how many iPhones are being sold every quarter and that’s how it will stay. The FANG stocks will still be promoted more than ever. The FANG stocks will be said to be much, much better an investment than Apple will ever be and they can guarantee double-digit revenue growth for years to come. Amazon will supposedly beat Apple to the $1T market cap mark despite Apple being a lot closer. Pump the FANG stocks and dump Apple stock will be the order of the month. The crooks control Wall Street.
Dont underestimate the power of the buyback ..
And Anal-cysts have some what dug their on grave on that last round.
You and MDN have an unhealthy fixation on analysts. Well the stop posting and reading their articles. Use your crystals and feathers to determine how Apple is doing in the market. Your religious fervor cannot possibly fail you, the iPhone is the perfect product and will never ever saturate the market. Put your money where your mouth is.
For the record, Mike is absolutely correct. S&P 500 grew every year of the Obama administration. For 2018, it’s still flat.
Well what a surprise, if you give tax cuts to multinational corporations, they will have more money to deploy wherever in the world they think they can make the most money. The puppets in Congress didn’t think to require domestic investments as a requirement for permanently cut corporate taxes.
Surprise #2 for the armchair economists here: tariffs hurt everyone except the most inefficient producer. It is crass market manipulation that republicans used to oppose? What changed? Wel now you have an economically illiterate president who cares more about rallies and news than about growing domestic business opportunities for the entire country. His isolationist trade policy stupidity totally undermines any benefit that the short term tax deal would have offered.
If you grade American Greatness on the F500 or Dow, so far 2018 has been a major bummer. If you think the magic rally is going to happen right after Stormy goes away or Trump releases hos promised tax return or Giuliani gets axed or whatever, fine, you believe what you’re going to believe. The incompetence of this administration will achieve no economic returns above Obama’s for the next few years, then the deficit shit will hit the fan and Trump will whine about boosting the debt limit again even though his budget proposals haven’t done a thing to decrease the deficit spending. Ical that.
Lol .. what fuxation.. u maje no sense .
The only unhealthy fixation is liberal bogus dogma and bias.. and BS
What have all the prior buybacks accomplished? Keep waiting for the boom, it’s going to take more than iteration , me-too service, and buybacks for Apple to significantly outperform. Some fresh hardware that is actually better in total functional value would be a sign that Apple isn’t still happy coasting on Jobs momentum.
What have they accomplished..
This must be the epitome of uninformed question !
Today’s price is what !
Share price= (earnigs/ number of shares)* Multiple.
Guess what happens when number of shares drop … if u can do the simple math.
Hate to tell everyone, but the market isn’t surging forward. The positive slow steady STABLE upward climb that the current administration inherited (and which continued for several months after Donnie moved in) has given way to erratic turbulence, misinformation, trade wars, regulatory uncertainty, etc.
DJI Jan 2, 2018: 24,824.01
DJI May 4, 2018: 24,288.05
DJI YTD change: – 535.96, a 2% decline
We realize that the Dec 2017 corporate welfare tax bill will take many years to play out, but the instant economic boom that the POTUS claims is happening … it just ain’t happening. All market indices are on a flat trajectory with lots of noise. Great for day traders, useless for business and long term investors. The working class should be waking up to the fact that the act was all about allowing corporations to slosh their money around wherever they wanted — no guarantees that over the long term the worker salary would return to healthy levels. Average US pay for workers hasn’t even kept up with the low rate of inflation for decades. The bill has no provisions to change that, despite all rhetoric on the stump.
By the way, crude oil is shooting up in price, and inflation is starting to rise as well. Be sure to calculate that into your future growth dreams under your hero Donnie. You’ll find him at the golf course if you want to find him. Do you make products out of aluminum or steel? Prepare your deviation request and bribes now, he’ll let you kiss the ring at Maralago.
Low dont go there… and spare us the political spins… and BS…
waste of time and energy.
Cross the ‘low’ out.. mistake
Uh… you’re the one pulling 200 points out of yer bum
What 200 point?… do u even comprehend whats posted ?
If u are refering to 200+ above its not points wise woman.. its stock price… and if u know how to do simple math you will see that it not stuff that is pulled out of bums..
At the end whatever it is you think im pulling out of my bum…….Is better than the incoherent gargle spewing out of yours ..
Not a popular thing to do Mike, pointing out undeniable facts.
Trump wants credit for tweeting while a lot of mfg business is in turmoil. Several businesses I know just canceled plans for expansion. Their orders dried up when the increased costs for the raw materials (metals) were negotiated. Thanks to market harming tariffs.
Want to know why Ford just axed all its sedans? Because steel just got more expensive. Consumer choice, bye bye.
This administration is harming not helping small businesses. Goldman Sachs is happy though. The swamp is overflowing with scum.
all over the place. Tariffs suck…ok. The verdict on them hasn’t come to a true conclusion. I say this not liking them, but China has intimated a modification of their policies.
Ridiculously broad swipe; “harming small businesses.” Every one, which ones? Are you sure? I know some that are doing well. Oh, how’s that unemployment rate this week?
Just go ahead say, you’re not happy with Trump and then your whining makes sense.
Undeniable facts… nope!
Undeniable personal bias .. yup!
Give this childish attitudes a break… allow yourself to grow up a bit .
Trump is the president.. and he is kicking major Butt ..evev given the relentless liberal media headwinds and BS .
In 3 years everyone will have a chance to vote again..
So Chill … and check that bias at the door. It will help u see things clearer.
It’s hard to check your bias at the door after being poked in the eyes with two fingers, after which it’s hard to see things clearly. It’s hard to be impartial when constantly assailed as a poisonous liberal for expecting fair play. But that’s politics, and that’s life. We’ll see how it plays out.
Grow up..
No one is entitled..
Fair?
What fair ? The Fair defined by the BOOK yet again?
Where is that book…
Please send me a copy!
Entitlement has never prooved healthy or productive..
It does not exist in nature/universe … except in liberal (human) minds…
But hey.. liberals are above nature right..
Above all knowing even !
Give it a break…
nothing functions on a singular pole !
“It’s hard to check your bias at the door after being poked in the eyes with two fingers, after which it’s hard to see things clearly. It’s hard to be impartial when constantly assailed as a poisonous conservative for expecting fair play. But that’s politics, and that’s life. We’ll see how it plays out.”
I don’t feel like I feel bullied like the scenario you noted, but I love when one’s word can be flipped and be apt for another on another pole. “Fair play” is as easy to define as atomic fusion, btw…albeit simpler in appearance.
I never said I felt like the people I was describing. Perhaps my point was too subtle, because yojimbo007 assumed I was whining about me, and now you seem to assume the same thing to make a different point. Note to self: quit shooting from the hip; take careful aim.
You got it wrong..
Pole and Fair were in no way correlated in the post.. rather response to two different issues.
Singular Pole comment only refers to ‘dogmatic/fanatic liberal bias’