“Count Warren Buffett as one of the Apple Inc. investors cheering Wednesday as the tech giant’s shares jumped almost 6% a day after posting a positive earnings report and outlook,” Mike Murphy reports for MarketWatch. “That’s because the billionaire chairman of Berkshire Hathaway Inc. likely made more than $2.6 billion in a single day as Apple shares spiked.”
“As of the end of March, Berkshire Hathaway held 239.6 million Apple shares, according to FactSet data,” Murphy reports. “Assuming it hasn’t sold any — Berkshire has been loading up on Apple, buying 75 million shares in the first quarter alone — that’s a profit of about $8 billion in four months, and a $48 billion overall stake in Apple.”
“Apple is closing in on a trillion-dollar valuation,” Murphy reports. “On Wednesday it updated its share count, revealing its market cap currently stands at $973.2 billion.”
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MacDailyNews Take: Yesterday was quite a nice pop for all Apple investors!
Apple’s new trillion-dollar magic number is $207.05 – August 1, 2018