There’s been plenty of Apple ‘doom and gloom’ stories of late, where journalists extrapolate how Apple will perform based on a single quarter in which iPhone sales and revenue dropped.
It has also led some of Apple’s investors to bail on the company, factors which have conspired to keep Apple’s share price lower.
Apple stock is currently down about 30% off its 52-week high.
But now comes the news that legendary investor, Warren Buffet, who has traditionally avoided tech stocks because of an admitted lack of understanding, has invested nearly $1 billion into buying Apple’s share price when it is low.
More below, please read on.
Already, ’initial trading’ reports from Market Watch suggest that Apple’s stock price ‘surged’ more than 4% on the news that Buffett had bought nearly 10 million AAPL shares, which is where it is at the time of writing.
However, whether Apple will continue to rise on the back of Buffett entering the fray, or not, is yet to be seen.
Until then, one billionaire’s trash is another even richer billionaire’s treasure!