Buffett Bought 75M Apple Shares During Q1; Total Stake Now Worth $42.5B
Warren Buffett took a break from explaining his views on bitcoin to pop star Katy Perry to reveal during an interview this week that Berkshire Hathaway bought another 75 million Apple shares during the first quarter – bringing Berkshire’s total stake to 240.3 million shares worth roughly $42.54 billion.
That’s nearly twice as much stock as Apple itself bought back during the first quarter as it marshaled a flood of repatriated profits unleashed by the Republican tax reform law to carry out the largest corporate buyback in US corporate history.
Buffett disclosed his latest purchases Thursday evening after Apple smashed expectations with its first quarter earnings report – allaying fears that iPhone X prices was “too damn high” and was therefore weighing on sales. Meanwhile, a “spectacular” miss by a crucial Apple supplier stoked alarm among investors that the most valuable US company might similarly disappoint.
“It is an unbelievable company,” Buffett told CNBC.
“If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States.”
Tomorrow, Berkshire will release its Q1 earnings report during its annual shareholders meeting – a weekend-long event on Omaha that has been described as “Woodstock for Capitalists”.
After its latest purchase, Berkshire is now Apple’s third-largest shareholder (despite what the chart above says). Apple shares tumbled during the first quarter – most notably during the FAANG selloff in February – providing ample opportunity for Buffett to snap up shares at a discount.
Watch his full interview with CNBC below:
AAPL stock is up in the pre-market following the Buffett news…
Source: http://silveristhenew.com/2018/05/04/buffett-bought-75m-apple-shares-during-q1-total-stake-now-worth-42-5b/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.
| Online: | |
| Visits: | 1,609,271,913 |
| Stories: | 8,167,396 |
Whistler Blowers, Insiders
