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